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Fred deposited $1,000 into an account that earns 2 percent, compounded annually. How much money will he have in 5 years?

$1000

$1100

$1552

$1291

$1126

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Answers (1)
  1. 16 May, 23:52
    0
    2% of $1000 is $20

    20 * 5 = 100

    100 + 1000 = 1100

    $1100 is your answer
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