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Jasmyne1117:
You deposit $200 into a savings account. The savings account pays 1% interest per year. If you keep that money in there for 5 years, how much will the account be worth when you cash out? (Round to the nearest hundredth, and don’t forget the $ in front)
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YRJ8498:
Is this a test or quiz?
Jasmyne1117:
No Homework
YRJ8498:
Welcome to Question Cove. does it say what the initial balance was?
Jasmyne1117:
No, but im guessing 200$
YRJ8498:
The final balance is $210.25. The total compound interest is $10.25.
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Jasmyne1117:
Thank you
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