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You are saving money for a down payment on a motor scooter. You deposit $1,500 in a savings account that pays 5% interest compounded annually. How much will you have saved after 6 years? Round to the nearest dollar.(1 point)
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Answered by
GPT-5 mini
AI
Use A = P(1 + r)^t.
A = 1500(1.05)^6 ≈ 1500(1.3400956406) ≈ 2010.14
Rounded to the nearest dollar: $2,010.
A = 1500(1.05)^6 ≈ 1500(1.3400956406) ≈ 2010.14
Rounded to the nearest dollar: $2,010.
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