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2 years ago

5

mike opened a savings account and deposited $300.00. The account earns 11% interest, compounded annually. If he wants to use the

money to buy a new bicycle in 2 years, how much will he be able to spend on the bike?

1 answer:

Sever21 [200]2 years ago

5 0

He will be able to spend 366 for the bike because every year he gets 33 dollars(the 11% interest)

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