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Mrs. Lopez is investing $2,000 into an account that earns 5% interest compounded annually. What is the total amount she will have in the account after 2 years if no additional deposits or withdrawals are
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Dec 4, 2023
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Mrs. Lopez is investing $2,000 into an account that earns 5% interest compounded annually. What is the total amount she will have in the account after 2 years if no additional deposits or withdrawals are made?
(Round to the nearest hundredth)
Mathematics
middle-school
Ruiwen
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5% 2000 = 100
Thus after 1 year she’ll have 2100
5%of 2100 = 105
This after 2 years, she’ll have 2100+105= 2205
Jethroo
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Dec 10, 2023
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Jethroo
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