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Math - Compound Interest Formula

by Michelle
(Eclectic AL)










































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

Compute

   • 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
account?


The answer:


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


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Thanks for writing.

Staff
www.solving-math-problems.com



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