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Hiram Callaway deposits $2,350 in an account that earns interest at 3.2% APR compounded monthly. What is his ending balance after five years?

Hiram Callaway deposits $2,350 in an account that earns interest at 3.2% APR compounded monthly. What is his ending balance after five years?
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Hiram Callaway deposits $2,350 in an account that earns interest at 3.2% APR compounded monthly. What is his ending balance after five years?

User Ahmad Houri
by
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1 Answer

5 votes
A = 2350(1 + 0.032/12)^60
= $ 2757.16
User HongKilDong
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