Alexandria deposits $5,000 in a savings account earning 5% interest, compounded annually. To the nearest cent, how much will be in the account after 4 years?

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asked Dec 1, 2022 3.9k views

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Alexandria deposits $5,000 in a savings account earning 5% interest, compounded annually. To the nearest cent, how much will be in the account after 4 years?

Mathematics
high-school

Klaus Turbo asked

by Klaus Turbo

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1 Answer

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Answer:

At the end of 4 years, your savings will have grown to $6,077.

Explanation:

Yaguang answered Dec 7, 2022

by Yaguang

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