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9 June, 12:37

You put $250 in an account that earns 4% interest per year. What is the balance of the account after 5 years?

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Answers (2)
  1. 9 June, 13:42
    0
    Answer:300

    Step-by-step explanation:

    Each year, the interest is 250 * 4% = 10. For 5 years, it would be 50. Thus, our balance is 250 + 50 = 300
  2. 9 June, 15:25
    0
    250 (1.04) ^5 = $304.16 after 5 years will be the balance of the account
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