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2000 was deposited into an account with an APR of 4.3%. What is the balance after 5 year?

Solution

2000 was deposited into an account with an APR of 4.3%. What is the balance after 5 year?

Solution

Amount : 2430

Solution steps

Translate the problem into an equation:

A = 2000 (1 + 0.043 \cdot 5)

2000 (1 + 0.043 \cdot 5) = 2430

Amount : 2430

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