khaleesical9506 khaleesical9506

20-07-2017
Business

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If you deposit $5,000 in a bank account that pays 4% interest annually, how much will be in your account after 5 years? round your answer to the nearest cent.

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Aliwohaish12 Aliwohaish12

20-07-2017

The formula is
A=p (1+r)^t
A future value?
P present value 5000
R interest rate 0.04
T time 5years
A=5,000×(1+0.04)^(5)
A=6,083.26

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