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You deposit $600 into an account that pays 6% interest compounded annually. Find the multiplier for the rate for exponential growth.

You deposit $600 into an account that pays 6% interest compounded annually. Find the multiplier for the rate for exponential growth.
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You deposit $600 into an account that pays 6% interest compounded annually. Find the multiplier for the rate for exponential growth.

asked
User Mintydog
by
8.8k points

1 Answer

1 vote
6% = 0.06
1 + 0.06 = 1.06

Answer: 1.06
answered
User Jebasuthan
by
8.9k points
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