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14 December, 08:39

You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account. How much money will be in the account after 4 years

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  1. 14 December, 08:53
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    A = 2000 (1 + 0.05) ^4 = 2000 (1.05) ^4 = 2000 (1.2155) = $2,431.01
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