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Populaire >

you deposit 600 in an account earning 4% interest compounded annually. How much will you have in the account in 10 years?

Solution

you deposit 600 in an account earning 4% interest compounded annually. How much will you have in the account in 10 years?

Solution

Amount : 888.15

étapes des solutions

Translate the problem into an equation:

A = 600 (1 + \frac{0.04}{1})^{1 \cdot 10}

600 (1 + \frac{0.04}{1})^{1 \cdot 10} = 888.14657 \dots

Arrondir à hundredth la plus proche:

888.15

Amount : 888.15

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