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Question 2 5 pts You deposit $5000 in an account earning 7% interest compounded monthly. How much will you have in the account in 10 years? 5 nts

Question 2 5 pts You deposit $5000 in an account earning 7% interest compounded monthly. How much will you have in the account in 10 years? 5 nts
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24 votes
Question 2

5 pts
You deposit $5000 in an account earning 7% interest compounded
monthly. How much will you have in the account in 10 years?
5 nts

User Kevin Yuan
by
7.8k points

1 Answer

7 votes


s = 5000(1.07) {}^(t)


s = 5000(1.07) {}^(10)


s = 5000(1.96715)


s = 9835.756 \: dollars

User Taylrl
by
8.4k points
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