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A certificate of deposit has $10,000.00 and the bank pays 2.89% interest compounded monthly. After 5 years, what is the account balance?
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A certificate of deposit has $10,000.00 and the bank pays 2.89% interest compounded monthly. After 5 years, what is the account balance?
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Sep 13, 2021
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A certificate of deposit has $10,000.00 and the bank pays 2.89% interest compounded monthly.
After 5 years, what is the account balance?
Mathematics
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Aaditya Thakkar
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Aaditya Thakkar
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Answer:
17340
Explanation:
10,000 * 2.89%
289 * 12
3468 * 5
17340.
Paul Chris Jones
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Sep 19, 2021
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Paul Chris Jones
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