You put $250 in an account that earns 4% interest per year. What is the balance of the account after 5 years?

Question

You put $250 in an account that earns 4% interest per year. What is the balance of the account after 5 years?

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Eloise 5 hours 2021-09-15T05:41:59+00:00 2 Answers 0

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    0
    2021-09-15T05:42:59+00:00

    Answer:300

    Step-by-step explanation:

    Each year, the interest is 250 * 4% =10. For 5 years, it would be 50. Thus, our balance is 250 + 50= 300

    0
    2021-09-15T05:43:31+00:00

    Answer:

    250(1.04)^5= $304.16 after 5 years will be the balance of the account

    Step-by-step explanation:

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45:7+7-4:2-5:5*4+35:2 =? ( )