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Mathematics 7 Online
OpenStudy (anonymous):

Alecia deposited $500 in a savings account at 5% compounded semiannually. What is her balance after 5 years?

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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