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Kennedy opens a savings account with $500. He deposits $50 every month into the account that has a 0.95% interest rate, compounded annually. If he doesn’t withdraw any money, what will the account balance be in 10 years?
$6,263.11
$6,322.61
$6,812.69
$6,872.19
 11 months ago
 11 months ago
Kennedy opens a savings account with $500. He deposits $50 every month into the account that has a 0.95% interest rate, compounded annually. If he doesn’t withdraw any money, what will the account balance be in 10 years? $6,263.11 $6,322.61 $6,812.69 $6,872.19
 11 months ago
 11 months ago

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primeralphBest ResponseYou've already chosen the best response.0
dw:1368758235932:dw
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Are you raising the 50 to the 120th power? or is it 500+50(12*10)
 11 months ago

primeralphBest ResponseYou've already chosen the best response.0
not raised. Just multiplied.
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Okay and is that (1*.0095) or (1.0095)
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
I got 7144.58 using (1.0095). what answer did you get?
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Hello? Are you still here?
 11 months ago

primeralphBest ResponseYou've already chosen the best response.0
yeah, I got the same thing, but I'm trying to figure out the problem.
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Oh okay well, if you would like I could give you formulas that are in the chapter. They just didn't work.
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
It's a question from an exam. It's the last one and I can't figure out for the life of me what I am doing wrong.
 11 months ago

primeralphBest ResponseYou've already chosen the best response.0
what is FLVS? I think the answers are wrong.
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
It's online high school
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Yah I think so too sometimes, but then I am shown that I did something wrong
 11 months ago

primeralphBest ResponseYou've already chosen the best response.0
did you ever do compound interest?
 11 months ago

primeralphBest ResponseYou've already chosen the best response.0
I still think the answer isn't in the options......
 11 months ago

lswimstarBest ResponseYou've already chosen the best response.0
Yah I know what you mean I've tried all the formulas, but they are too far off
 11 months ago
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