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A principal of $450 is deposited in an account that pays 2.5% interest compounded yearly. Find the account balance after 3 years rounded to the nearest cent.
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A principal of $450 is deposited in an account that pays 2.5% interest compounded yearly. Find the account balance after 3 years rounded to the nearest cent.

User Brilliant
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1 Answer

4 votes
A=p(1+r)^t
A=450×(1+0.025)^(3)
A=484.60
User Bteapot
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