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A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?

A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?
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A savings account earns interest at an annual rate of 3.5%, compounded monthly. If the account begins with a principal amount of $5, 000, what will be its value after 4 years?

asked
User Stalxed
by
8.6k points

1 Answer

2 votes

Answer:

$5,737.62

Hopefully that is correct!

answered
User Michael Pryor
by
8.3k points
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