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Jack received $300 for his 13th birthday. If he saves it in a bank account with 8% interest compounded yearly, how much money will he have in the bank by his 18th birthday?
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Jack received $300 for his 13th birthday. If he saves it in a bank account with 8% interest compounded yearly, how much money will he have in the bank by his 18th birthday?

User Lytze
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1 Answer

2 votes

300(1.08)^5

440.798423

User Alirabiee
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7.6k points
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