30-08-2017
Mathematics

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You borrow $600.You pay 5% interest compounded annually. How much do you owe at the end of 4 years?

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03-09-2019

Answer:

$729.30

Step-by-step explanation:

Each year, the amount owed is multiplied by 1.05. At the end of 4 years, it will be ...

$600×1.05⁴ ≈ $729.30

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