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You invest 300$ at 4% intrest compounded every year what will your balance be after 5 years?
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You invest 300$ at 4% intrest compounded every year what will your balance be after 5 years?

You invest 300$ at 4% intrest compounded every year what will your balance be after-example-1
User Andyqee
by
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1 Answer

5 votes

Using the given formula:

A = 300(1+0.04)^5

A = 300(1.04)^5

A = 364.995 = 365.00

The answer is D.

User AreYouSure
by
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