Bank of America offers an annual interest rate of 4%. Suppose you plan to invest $500 for 5 years.

asked Jan 3, 2024 124k views

1 vote

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7 votes

Answer:

$609.50 after 5 years.

Explanation:

After 5 years, your investment will grow to approximately $609.50 with a 4% annual interest rate.

Joe Bane answered Jan 7, 2024

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