# Math 115

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If \$9,000.00 is deposited into an account paying 4% interest compounded annually (at the end of each year), how much money is in the account after 5 years? (Round to the nearest cent.)

• Math 115 -

direct application of the compound interest formula
Amount = Principal(1 + i)^n

here Principal = 9000
i = .04
n = 5

the rest is button-pushing.

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