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Marcos decides to open a savings account to finance his newborn son's studies in the future. For its part, the bank offered him an annual interest rate of 4.8%. The amount that Marcos deposited in the account was $ 2,000,000. If you do not withdraw the money or interest. What capital will it have at 5 years? |
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Answer» 2528345.43 rsStep-by-step EXPLANATION:CI=P(1+r/100)^N =2000000*(1+4.8/100)^5 =2000000*(1.048)^5 =2528345.43 |
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