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You deposit $5,000.00 in an account earning 8% interest compounded annually. How much will you have in the account in 5 years?

You deposit $5,000.00 in an account earning 8% interest compounded annually. How much will you have in the account in 5 years?
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You deposit $5,000.00 in an account earning 8% interest compounded annually. How much will you have in the account in 5 years?

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User Jernej Strasner
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1 Answer

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the correct answer is 3,125 . you first divide 5.000 by 8 and the answer you get from that tou multiply it by 5.
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User Proximo
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