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Math - Compound Interest Formula

by Michelle
(Eclectic AL)

Use Compound Interest Formula: A = P*(1 + r)^t


   • Compound Interest

   • Savings Balance

Initial Deposit to Savings Account: $500

Interest Rate: 5%, compounded annually

How much money will be in the savings account at the end of 10 years?

Comments for Math - Compound Interest Formula

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Jul 28, 2012
Compound Interest
by: Staff

The question:

A person deposited $500 in a savings account that pays 5% annual interest that is
compounded yearly. At the end of 10 years, how much money will be in the savings

The answer:

I have found a good answer to your question in our archives.

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Thanks for writing.


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