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15-05-2024
Mathematics

Answered

Henry has $3,261 in an account. The interest rate is 5% compounded annually.
To the nearest cent, how much interest will he earn in 1 year?
Use the formula B = p(1 + r), where B is the balance (final amount), p is the principal
(starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer :

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