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You deposit $3000 in an account that pays 5% annual interest. What is the balance after 2 years?
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You deposit $3000 in an account that pays 5% annual interest. What is the balance after 2 years?

User Slazyk
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1 Answer

5 votes
5 / 100 = .05
3000(1.05)^2

The answer is $3307.50

Hope this helps :)
User Margo
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