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3 years ago

7

A savings account accrues interest at a rate of 7.0% yearly. If someone opens an account with $20,000, how much money would the

account have after 4 years?
A. $1,400.00 B. $22,898.00 C. $24,500.86 D. $26,215.92

1 answer:

marissa [1.9K]3 years ago

5 0

I = PRT/100
I = 20000*7*4/100
I = 5600

There would be $5,600 + $20,000 = $25,600 in the account at the end of the four years

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