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OpenStudy (anonymous):
Mr. Smith invested $2,500 in a saving account that earns 3% compounded annually. He made no additional deposits or withdrawals. Which expression can be used to determine the number of dollars in this account at the end of 4 years?
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OpenStudy (mathmate):
Compound interest formula: Amount=P(1+i)^n n=number of periods, P=principal (amount invested) i=annual interest (compounded annually)
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