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Popular Word Problems >

Upper A ​7000 deposit in an account with an APR of 5​%. What is in the account after 1 year?

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Solution

UpperA​7000depositinanaccountwithanAPRof5​%.Whatisintheaccountafter1year?

Solution

Amount:7350
Solution steps
Translate the problem into an equation:A=7000(1+0.05⋅1)
7000(1+0.05⋅1)=7350
Amount:7350

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