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An investor puts ​$900 in an account that pays 3% interest compounded annually. find the account balance after 5 years.

An investor puts ​$900 in an account that pays 3% interest compounded annually. find the account balance after 5 years.
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An investor puts ​$900 in an account that pays 3% interest compounded annually. find the account balance after 5 years.

User Zivka
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1 Answer

4 votes
Total = Principal × ( 1 + Rate )^years
Total = 900 * (1.03)^5
Total = 900 * 1.1592740743
Total = 1,043.35

User TrueWill
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8.5k points
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