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26 March, 23:43

You deposit $1500 in an account that pays 6% interest compounded yearly. Find the balance after 5 years.

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  1. 27 March, 02:28
    0
    1950

    Step-by-step explanation:

    p: 1500

    r: 0.06

    n: 1

    t: 5

    1500 (1 + 0.06/1) ^5

    1500 (1.06) ^5

    1500*1.3

    1950
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