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You invest $5000 in an account. This account pays 4% annual interest compounded monthly. What would the balance be in the account after 2 years?

You invest $5000 in an account. This account pays 4% annual interest compounded monthly. What would the balance be in the account after 2 years?
asked 71.6k views
1 vote
You invest $5000 in an account. This account pays 4% annual interest compounded monthly. What would the balance be in the account after 2 years?

asked
User Dvdblk
by
8.3k points

1 Answer

3 votes

Answer:

$9800

Explanation:

answered
User CaTourist
by
8.5k points
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