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How do Accountants use Algebra?

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  • 1 decade ago
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    One way is they use algebra to calculate compound interest.

    Amount = Principal * (1+i)^n

    where i is the interest rate and n is the number of years.

    Another way is they use this formula to create balance sheets.

    Assets = Liabilities + Owner's Equity

    The last way I'll mention is how they calculate how much you owe them:

    Fee = (number of hours worked) X (cost / hour)

    .

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