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Popular Word Problems >

2000 was deposited into an account with an APR of 4.3%. What is the balance after 20 year?

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Solution

2000wasdepositedintoanaccountwithanAPRof4.3%.Whatisthebalanceafter20year?

Solution

Amount:3720
Solution steps
Translate the problem into an equation:A=2000(1+0.043⋅20)
2000(1+0.043⋅20)=3720
Amount:3720

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