Imagine you deposited $500 in a savings account that has an annual interest rate of 5% for 5 years. Use the simple interest formula from the article to calculate how much you would earn each year. Then,

asked Nov 7, 2023 229k views

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Answer:

After investing for 5 years at 5% interest, your $500 investment will have grown to $638.14

Explanation:

Raphael C answered Nov 14, 2023

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