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Gerhard deposited $5600 into a savings account that earns 4.5% simple interest each year calculated annually. What is the future value of Gerhard's account after 12 years?<…

Gerhard deposited $5600 into a savings account that earns 4.5% simple interest each year calculated annually. What is the future value of Gerhard's account after 12 years?<…
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Gerhard deposited $5600 into a savings account that earns 4.5% simple interest each year calculated annually. What is the future value of Gerhard's account after 12 years?

asked
User Fanhats
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7.6k points

2 Answers

1 vote
first you have to add 5600×4.7%×12 all of that =$3158.4
answered
User Larry Landry
by
8.0k points
2 votes

Answer: 8624.00


Explanation:


answered
User Osama Ahmad
by
8.9k points
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