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Marina86 [1]
3 years ago
8

Sally opens a bank account with $500. The account accrues 5% interest compounded annually.

Mathematics
1 answer:
Yuri [45]3 years ago
3 0
500 x 1.05^4 

it's 4 periods because the interest rate is compounded yearly. 5 percent yearly increase is equal to P x 1.05
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