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31 August, 09:13

You deposit $500 into a savings account that earns 3.2% annual interest. How much is in the savings account after 10 years?

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  1. 31 August, 09:30
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    A = P (1 + r/n) ^nt

    P = 500

    r = 3.2% = 0.032

    n = 1

    t = 10

    A = 500 (1 + 0.032) ^10

    A = $685.12
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