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Billy deposited $5,000 in an account earning 1% interest compounded annually. To the nearest cent, how much interest will he earn in 1 year?
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Billy deposited $5,000 in an account earning 1% interest compounded annually.

To the nearest cent, how much interest will he earn in 1 year?

User Ratna Halder
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1 Answer

3 votes

Answer:

$50.00 is the amount of interest

User Akshay Rathore
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