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you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in the account in 5 years?

Question

you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in the account in 5 years?

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Step 1

We have given,

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Step 2

We have to find the amount we will have in the account after 5 years

We know that,

For Compound Interest

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Step 3

Putting these ...

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Tagged in

Math

Algebra

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