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11 March, 14:10

Jake's bank offers him an account with 3% interest, compoundedannually. How much interest would he earn from this account if hedeposits his $1,320 for 5 years?

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  1. 11 March, 15:01
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    I=P (1+R/100) ^5

    I=$1320 (1+3/100) ^5

    I=$1530
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