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3 years ago

6

Five years ago, Chris opened a savings account that earned 1.4% simple interest every year. He opened his account with $850.00 a

nd has not made any withdrawals. How much money is in his account now?

1 answer:

Blababa [14]3 years ago

3 0

If it is compounded annually, this will be 850(1.014)^5 which equals $911.19

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