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09-02-2021
Mathematics

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You deposit $5000 in a bank account. Find the balance after 10 years with a 5% annual interest compounded monthly.

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gmercer8539 gmercer8539

09-02-2021

Answer:

$7,500

Step-by-step explanation:

5,000*0.05=250

250*10=2,500

5,000+2,500=7,500

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