﻿ You deposit \$500 into a savings account that earns 3.2% annual interest. How much is in the savings account after 10 years? - AssignmentGrade.com

# You deposit \$500 into a savings account that earns 3.2% annual interest. How much is in the savings account after 10 years?

QUESTION POSTED AT 01/06/2020 - 04:41 PM

A = P(1 +r/n)^nt
P = 500
r = 3.2% = 0.032
n = 1
t = 10

A = 500(1 + 0.032)^10
A = \$685.12

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