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OpenStudy (anonymous):
How much would $500 invested at 4% interest compounded monthly be worth after 5 years? Round your answer to the nearest cent. Do not include units in your answer.
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OpenStudy (anonymous):
500(1.04)^60=5259.813704
OpenStudy (anonymous):
5x12=60
OpenStudy (anonymous):
Thanks! I was struggling.
OpenStudy (anonymous):
A = P(1 + r)n
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