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A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 4 years?

A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 4 years?
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A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 4 years?

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User Lukas Thaler
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7.8k points

1 Answer

7 votes
2500(1.03)^5 that's the equation .
which means it would be 2,898.18
answered
User Solangel
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7.7k points
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