Math Problem Statement
Sittipon invested $1700 in an account, 7 years ago at the rate of 18% compounded monthly.
how much is his investment worth now?
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Exponential Growth
Formulas
Compound Interest Formula: A = P(1 + r/n)^(nt)
Theorems
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Suitable Grade Level
Grades 10-12
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