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Amir deposits $325 in a bank account that earns 3% each year. How much will the account have in 5 years? Assume they make no additional deposits nor withdrawals.
Question 1 options:
A.$9.75
B.$1625.00
C.$376.76
D.$373.75
each year, multiply the previous year's amount by 1.03 - the 1 because it will be increasing and the .03 because it will be increasing by 3% (.03 = 3% in decimal form)
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