SOLUTION: A person deposited $500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years, how much money will be in the savings account?
500 x
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500 x
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Question 401937: A person deposited $500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years, how much money will be in the savings account?
500 x 5% = 25
25 x 10 = 250
500+250 = 750 Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! = initial deposit = interest rate = years invested = amount after years
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