dcollie32 dcollie32

22-10-2020
Mathematics

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Suppose that $4500 is placed in an account that pays 19% interest compounded each year.
Assume that no withdrawals are made from the account.
(a) Find the amount in the account at the end of 1 year.

(b) Find the amount in the account at the end of 2 years.

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stuffother134 stuffother134

22-10-2020

Answer:

a) 5355

b) 6372.45

Step-by-step explanation:

4500 * 1.19 = 5355

5355 * 1.19 = 6372.45

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