dahann1
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If you put $100 in a savings account with an interest rate of 2% per year and left the money in the account for five years, how much money would be in the account after five years?

Respuesta :

NgShiYin

Answer:

$510

Step-by-step explanation:

Formula for calculating money with simple interest: principle money × interest rate with 100% × period of time

Total amount of money = 100 × [tex]\frac{100+2}{100}[/tex] × 5

                                       = 510

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