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Soloha48 [4]
3 years ago
5

a $4,000.00 principal earns 5% interest, compounded annually. After 4 years, what is the balance in the account?

Mathematics
1 answer:
tensa zangetsu [6.8K]3 years ago
8 0
Interest rate is 5% annually. After 4 years relative value of interest will be 1.05^4
Now we multiply that with starting funds and get
4000* 1.05^4 = 4862.03
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