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29-03-2021
Mathematics

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1. An investor deposits $1000 in an account that promises an annual interest rate of 5%,
compounded at the end of each year. How much will be in the account after seven years?

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prestonyouatt prestonyouatt

29-03-2021

Answer:

$1,407.10

Step-by-step explanation:

1000(1.05)^7 = 1.05^7 ≈ 1.40710 * 1000 = $1,407.10

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