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Maggie has $2,674 in an account that earns 5% interest compounded annually. To the nearest cent, how much interest will she earn in 2 years?

Maggie has $2,674 in an account that earns 5% interest compounded annually. To the nearest cent, how much interest will she earn in 2 years?
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3 votes
Maggie has $2,674 in an account that earns 5% interest compounded annually.

To the nearest cent, how much interest will she earn in 2 years?

asked
User Ranjana Ghimire
by
8.6k points

1 Answer

3 votes

Answer: 274.09

Explanation:

2674 x ((5%+1)^2 - 1)

274.085

round: 274.09

answered
User Jbsound
by
8.2k points
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