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20 September, 17:10

An investor puts $900 in an account that pays 3% interest compounded annually. find the account balance after 5 years.

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  1. 20 September, 19:35
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    Total = Principal * (1 + Rate) ^years

    Total = 900 * (1.03) ^5

    Total = 900 * 1.1592740743

    Total = 1,043.35
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