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greg invests 500$ in a savings account that earns 4% simple interest annually. if he does not make any additional deposits or withdrawals, how much money will be in the savings account after 5 years?

User Liggliluff
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2 Answers

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Greg will earn $100 dollars
User Kevser
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Answer:

The answer is 100.

Explanation:

4% of $500 is $20. If Greg collects $20 each year 5 times in a row, he will have earned $100.

User Pradhumn Sharma
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