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Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 6%. if no money is added or withdrawn from the account, what will the amount be after 4 y…

Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 6%. if no money is added or withdrawn from the account, what will the amount be after 4 y…
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Suppose you deposit $2,000 in a savings account that pays interest at an annual rate of 6%. if no money is added or withdrawn from the account, what will the amount be after 4 years?

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User Zvezda
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1 Answer

2 votes
Total = Principal * (1 + rate)^years
Total = 2,000 * (1.06)^4
Total = 2,000 * 1.26247696
Total = 2,524.95


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User Bloxx
by
7.7k points
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