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Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly. If you leave your money for 5 years, how much wi…

Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly. If you leave your money for 5 years, how much wi…
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Your paycheck this week is $138.25. You put the $42.54 in a savings account that pays an interest rate of 6%, compounded yearly. If you leave your money for 5 years, how much will you have? Please help! Thank you

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User Anewcomer
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8.3k points

1 Answer

6 votes
amount of money you will have = 42.54(1+6/100)^5=56.9
answered
User Shane Cavaliere
by
8.0k points
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