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You deposit $500 in an account that earns 4% simple annual interest. The interest earned each year is added to the principal to create a new principal. Find the total amount in your account after each year for 3 years.

6 answers

500 * 1.04^3
This is just compound interest

but what is the answer

srsly

sus

mogus

1 520
2 540.80
3 562.43

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