sydneelittle7183 sydneelittle7183

24-06-2021
Mathematics

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You decide to invest $500 in an account that earns 4% interest compounded annually. What is the total amount of your investment after 2 years?

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fayebell2 fayebell2

24-06-2021

Answer:

$540.8

Step-by-step explanation:

$500 x 1.04^2 = $540.8

Multiply by 1.04^2 as it is a percentile increase for interest

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