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Posted by on Thursday, July 31, 2008 at 12:07pm.

If $7,800 is deposited into an account paying 6% interest compounded annually at the end of each year, how much money is in the account after 2 years?

  • math - , Thursday, July 31, 2008 at 12:13pm

    Multiply $7800 by 1.06, TWICE (once for each year). That will give you the answer.

    Doing the calculation yourself will be a good exercise.

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