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31 July, 10:17

You put $500 in to a savings account which earns compound interest at a rate of 0.2% per month. if you dont make any deposits or withdrawls how much will you have in your account in 10 years

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  1. 31 July, 10:33
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    A = 500 (1 + 0.002) ^ (10 x 12) = 500 (1.002) ^120 = 500 (1.2704) = $635.47
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