Question 730024
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how much will $5,000 invested at 3% interest be worth in 4 years if it is compounded annually
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<pre>
Use a standard formula for the account compounded annually

    FV = {{{5000*(1+0.03)^4}}} = 5627.54 dollars.    <U>ANSWER</U>
</pre>

Solved.


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Ignore the answer in the post by @lynnlo, since it is incorrect.