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Investing $5,000 in a savings account at 1% annual interest compounded quarterly will result in approximately how much money after 2 years? Use the formula: A = P(1 + )" $5…
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Investing $5,000 in a savings account at 1% annual interest compounded quarterly will result in approximately how much money after 2 years? Use the formula: A = P(1 + )" $5…
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Jul 26, 2023
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Investing $5,000 in a savings account at 1% annual interest compounded quarterly will result in approximately how much money after
2 years?
Use the formula: A = P(1 + )"
$5,100.00
$5, 100.50
$5,075.47
$5, 100.88
Mathematics
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Jim Mack
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Jim Mack
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Answer:
B. 5,100.5
Explanation:
5000(1+.01)^2 = 5100.5
Karl Monaghan
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Aug 1, 2023
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Karl Monaghan
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