If You Deposit $100 Now with Interest Rate of 3

question 95

Essay

If you deposit $100 now with interest rate of 3 percent, after the first period you will have an amount equal to (100 + 100× 0.03) = 100(1 + 0.03); after the second period the amount will be 100(1 + 0.03) + [100(1 + 0.03)]×0.03 = 100(1 + 0.03)(1 + 0.03) = 100(1 + 0.03)2. If we continue this reasoning, we find out that the amount in the account after n periods is equal to $100(1 + 0.03)n. In general, if the interest rate is i percent, the formula for compound interest rate becomes (1 + i%/100)n. Suppose there is a tax rate of t percent on interest income. How does our formula change?

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Understand the significance of various colors and appearances in test results and what they indicate about patient health.

Learn the application and interpretation of tests used to detect substances in urine and other specimens.

Grasp basic concepts related to urinary and renal health, including specific gravity and its implications.

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