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If $5,000 is put in a savings account paying interest of 4% compounded annually, what amount will be in the account at the end of
If $5,000 is put in a savings account paying interest of 4% compounded annually, what amount will be in the account at the end of 5 years? (Round to the nearest dollar.)
4%, 5 years annually | Factor |
Present value of $1 | 0.822 |
Future value of $1 | 1.217 |
Present value of an annuity | 4.452 |
Future value of an annuity | 5.416 |
Group of answer choices
None of the options listed
$6,077
$6,085
$4,110
$6,000
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