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How much would $500 invested at 7% interest compounded annually be worth after 5 years?

How much would $500 invested at 7% interest compounded annually be worth after 5 years?
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1 vote
How much would $500 invested at 7% interest compounded annually be worth after 5 years?

User Slashbin
by
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1 Answer

2 votes
interest compound= p(r+1)^t A=interest compound

7%= 7/100=0.07
A=500(0.07+1)^5
A=701.28

User Numabyte
by
8.0k points
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