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algebra 1

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on january 1,1997 you deposit $200.00 in a bank account paying 5% interest compunded annually on december 31 of each year. which of the following will be the account balance on january 1,2005

  • algebra 1 -

    looks like you money sat there for 8 years
    amount = 200(1.05)^8 = .....

  • algebra 1 -

    that equals 295.49 right?

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