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23 July, 00:45

Alex wants to have $2500 in his bank account after 2 years. If the account earns 5% interest compounded 2 times per year, how much should he put in? Round to the nearest cent. A. $2042.36 B. $2183.45 C. $2264.88 D. $2324.08

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  1. 23 July, 02:08
    0
    2,500: (1+0.05:2) ^ (2*2)

    =2,264.88
  2. 23 July, 04:05
    0
    I think the answer is A. 2042.36
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