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Helga invested $1000 at 5% interest, compounded annually. What is the total amount of interest that Helga will have earned by the end of the fourth year? Express your answer to …

Helga invested $1000 at 5% interest, compounded annually. What is the total amount of interest that Helga will have earned by the end of the fourth year? Express your answer to …
asked 231k views
11 votes
Helga invested $1000 at 5% interest, compounded annually. What is the total amount of interest that Helga will have earned by the end of the fourth year? Express your answer to the nearest dollar.

asked
User Ronze
by
8.0k points

2 Answers

5 votes

Answer:

1215

Explanation:

1000(1+5divided 1000)^4 = 1215.5

nearest dollar is 1216

answered
User Morganfree
by
7.9k points
6 votes
1000(1+5divided 1000)^4 = 1215.5
answered
User Vandita
by
7.6k points
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