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OpenStudy (anonymous):
Alecia deposited $500 in a savings account at 5% compounded semiannually. What is her balance after 5 years?
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OpenStudy (mertsj):
\[A=P(1+\frac{r}{n})^{nt}\] \[A=500(1+\frac{.05}{1})^{(1)(5)}\]
OpenStudy (mertsj):
\[A=$638.14\]
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