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23 December, 17:27

Suppose you put $500 into a bank account today. interest is paid annually and the annual interest rate is 3 percent. the future value of the $500 after 1 year is

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  1. 23 December, 18:29
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    A=p (1+r) ^t

    A=500 * (1+0.03) ^ (1)

    A=515
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