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If $10,000 is invested at a rate of 2 percent for 5 years, how much money is in the account at the end of the term?

$200
$1,000
$10,000
$11,000

User Bknights
by
7.7k points

1 Answer

3 votes

Using the simple interest formula: total = start(1 + rate x time)

Total = 10,000 x ( 1 + 0.02 x5)

Total = $11,000

Answer: $11,000

User Steve Owens
by
8.2k points

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