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26 March, 12:13

Billy deposits $800 in a local bank. He knows his money will be increased by 5% at the end of 1 year. How much money will he have at that time?

$840

$880

$882

$1,680

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Answers (2)
  1. 26 March, 13:00
    0
    Answer is $840

    $800 * 0.05 * 1 = $40 ... interest

    $800 + $40 = $840
  2. 26 March, 13:46
    0
    Basic math, of interest. He starts with 800 and gains 5% each year. 5% of 800 is 40.

    800 + 40 = 840.
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