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A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?

A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?
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A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?

User Stalxed
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1 Answer

2 votes

Answer:

$5,737.62

Hopefully that is correct!

User Michael Pryor
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