makki2959 makki2959

03-05-2018
Mathematics

contestada

you deposit $400 in a saving account with an annual rate of 4%. At this rate how much money will you have after 10 years?

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pandageek103 pandageek103

05-05-2018

Use the equation y = A(1 + r) ^t

A = original amount
r = rate of interest
t = time

Plug in the numbers: y = 400(1.04)^10

y = $592.10

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