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26 March, 11:20

Assume you invest $5000 in an account paving 8% interest compounded monthly. How much

money will be in the account after 5 years?

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Answers (1)
  1. 26 March, 13:20
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    5000 * 0.08 ⇒ 400

    400 * 12 ⇒ 4.800

    4.800 * 5 ⇒ 24.000

    answer (24.000)
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