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Regan deposited $20 in a savings account earning 5% interest, compounded annually.

To the nearest cent, how much interest will she earn in 3 years?

Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years

1 Answer

3 votes
$23
Mathias has $20 in a savings account. The interest rate is
5% per year and is not compounded. How much will he have in 3 years?
User Aldenn
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