SOLUTION: If you put $5,000 in a savings account that pays interest at a rate of 4%, compunded anuually, how much will you have in 5 years?

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Question 624527: If you put $5,000 in a savings account that pays interest at a rate of 4%, compunded anuually, how much will you have in 5 years?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
In General
A = Accumulated Amount
P= principal = 5000
r= annual rate = .04
n= periods per year = 1
t= years =5

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