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20 December, 12:58

Gabe has $100 in a savings account. The interest rate is 5% per year and is not compounded. How much will he have in 1 year?

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  1. 20 December, 14:42
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    I believe the answer is $105.

    Step-by-step explanation: Because the interest is not compounded, that means that the formula would be 100 (.05) (1), and then adding that number (5) to the answer, which is 105.
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