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25-10-2019
Mathematics

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Debbie has $70 in a savings account that earns 5% interest, compounded annually.

To the nearest cent, how much will she have in 2 years?

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25-10-2019

Answer:

$14

Step-by-step explanation:

70*.05 = 3.5

3.5*2 = 7 <— multiplying by 2 because it’s compounded

7*2 = 14 <— multiplying by 2 because it’s in 2 years

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