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Suppose you deposit $500 into an account earning 7.8% interest compound annually. what will your balance be after 5 years?

Suppose you deposit $500 into an account earning 7.8% interest compound annually. what will your balance be after 5 years?
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suppose you deposit $500 into an account earning 7.8% interest compound annually. what will your balance be after 5 years?

User Ted Pennings
by
7.0k points

1 Answer

5 votes
500 + 7.8%
539 x 5
2695
User Meric Ozcan
by
7.9k points
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