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13 December, 04:18

How much compound interest will an account of $10,000 bear after 5 years at 3% APR, compounded annually?

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  1. 13 December, 04:45
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    A=10,000 * (1+0.03) ^ (5)

    A=11,592.74

    Interest earned

    11592.74-10000=1592.74
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