nm132019 nm132019

10-08-2018
Mathematics

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how much would 500 invested at 5% interest compunded annually be worth after 4 years

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bawbdmo bawbdmo

10-08-2018

If the interest is compounded annually that means we multiply it by 1.05(5 percent increase) so we would get:

[tex] 500(1.04)^4\approx584.93 [/tex]

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