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4 December, 08:38

You deposit 1,000 for 4 years at an interest rate of 2.0%. If the interest is compounded annually, how much money do you have after the four years

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  1. 4 December, 09:23
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    Total = Principal * (1 + rate) ^ years

    Total = 1,000.00 * (1.02) ^4

    Total = 1,000.00 * 1.08243216

    Total = 1,082.43
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