Burns Elliott
09/26/2024 · Senior High School
Suppose that \( \$ 60,000 \) is invested at \( 8 \% \) interest. Find the amount of money in the account after 5 years if the interest is compounded annually. \( \begin{array}{l}\text { If interest is compounded annually, what is the } \\ \text { amount of money after } t=5 \text { years? }\end{array} \)
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The amount of money in the account after 5 years is approximately \$88,159.68.
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