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6.6 Exercise 5

Avg difficulty 2.5

Marietta opens a money market account, and deposits $2,500.00 in the account. It bears 1.76% interest compounded monthly. If she makes no other transactions on the account, how much will be in the account after 4 years?

OpenStax Contemporary Mathematics, 6.6 Methods of Savings, exercise 5

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.