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14 October, 14:57

S500 invested at 4% compounded annually for 10 years.

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  1. 14 October, 15:15
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    Hello there!

    $500 invested at 4% compounded annually for 10 years

    time: 10 years

    compound: annually

    interest: 4%

    y = 500 (1.04) ^10

    1.04^10 = 1.48

    500 x 1.48 = 740

    Value after 10 years: $740
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