$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left | MathCelebrity Forum

$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left

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math_celebrity

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$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left in the account for 5 years. How much interest is earned in this situation?

Using our compound interest calculator, we get interest earned as:
938.43
 
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