ANSWERS: 1
  • Here is an example that would compound $1000 for 10 years, compounding once a year at 5% APR: balance = 1000 for (year = 1; year <=10; year ++) {balance = balance * 1.05} print balance Here is an example that would compound $1000 for 10 years, compounding once a month at 5% APR: balance = 1000 for (month = 1; month <=120; month ++) {balance = balance * 1.004167} print balance

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