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Roman saves $500 each year in account earning interest at an account earning interest at an annual rate of 4% compounded annually.How much interest will the account earn at the …

Roman saves $500 each year in account earning interest at an account earning interest at an annual rate of 4% compounded annually.How much interest will the account earn at the …
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Roman saves $500 each year in account earning interest at an account earning interest at an annual rate of 4% compounded annually.How much interest will the account earn at the end of each of the first 3 years?

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User Luca Putzu
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1 Answer

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500 x(1.04)^3=562.432
562.432-500= 62.432
62.432 / 3= 20.8106
answered
User Kalpa Gunarathna
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7.5k points
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