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if leslie moves her money into an account that pays 8 percent compounded annually for 5 year(s), the amount of money that will accumulate is

2 Answers

6 votes
Leslie will accumulate an extra 1.851%
User Andrii Tsok
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4 votes

The value of an account at 8% compounded annually,
after 5 years have passed since your initial deposit, is

(the amount you originally put in) x (1.08)⁵ .

You didn't tell us how much Leslie invests at the beginning of the 5 years.
Whatever the amount is, it will become 46.9% greater in 5 years !

User Honk Der Hase
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