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6 March, 00:48

You deposit $400 in a saving account with an annual rate of 4%. At this rate how much money will you have after 10 years?

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  1. 6 March, 01:02
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    Use the equation y = A (1 + r) ^t

    A = original amount

    r = rate of interest

    t = time

    Plug in the numbers: y = 400 (1.04) ^10

    y = $592.10
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