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25 July, 10:09

You deposit $750 into a savings account that pays 8% interest compounded yearly. How much money is in the account after 7 years assuming no additional deposits or withdrawals were made

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  1. 25 July, 10:38
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    Total = Principal * (1 + rate) ^years

    Total = 750 * (1.08) ^ 7

    Total = 750 * 1.7138242688

    Total = 1,285.3 7
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