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21-09-2020
Mathematics

contestada

Paul deposits $4000 in a bank which pays a compound interest
rate of 4% per year. How much will he have in 5 years.

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21-09-2020

Answer: He will have 3,200 in 5 years.

Step-by-step explanation: This is because 4% of $400 is 160, and if you multiply that by 5 you get 800, then you just subtract that from the total amount and you get your final answer.

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