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2 July, 11:57

If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?

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  1. 2 July, 15:23
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    Interest formula: A=P (1 + r) ^t

    A = 10000 (1 + 0.1) ^5

    A = 10000 (1.01) ^5

    A = 10000 (1.0510100501)

    A = $10,510.10
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