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20 July, 18:47

An amount of $1,000 is deposited into a bank account that pays 4% interest each year. If there are no other withdrawals or deposits, what will be the balance of the account after 5 years?

Type your answer rounded to the nearest penny. Example $12.52

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  1. 20 July, 18:48
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    Answer: i believe it's 1200

    Step-by-step explanation:

    1000*0.04=40

    40*5=200

    1000+200=1200
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