, Could you please help me understand that when I take 8.23% and I put it into the equation of (1 + 8.23)^12, I do not get = 2.5833. I get a huge number . How do you get the result of 2.5833 when using the percentage of 8.23? Thank you

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Q: I am confused still. I understand how the 2.33 was obtained but why is the percentage used 0.99

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