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25 April, 17:15

You want to save for a brand-new car. You put the $5,000 your Grandma gave you when you graduated in an account that pays 6% interest and is compounded monthly. How much will you have at the end of five years? Hint: use Compound Interest formula A = P (1 + r/n) nt.

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  1. 25 April, 17:45
    0
    6,744.25
  2. 25 April, 18:15
    0
    6,744.25
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