You deposit $2,500 into an account that earns 3% per year. How much will you have...

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You deposit $2,500 into an account that earns 3% per year. How much will you have in your account in 10 years? $3,903.05 $4,5

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Answer 1

Answer #1

Deposit amount = $2500

Rate of interest = 3% per year.

Time = 10 years

Amount at the end of 10 years =

= 2500 * 1.03¹⁰

= $ 3359.79

The amount after 10 years would be $3359.79. So, option 3 is the correct answer.

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Answer 2

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