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Compute the Compound Interest $500\$ 500 After 5 Years, What Will the Amount of Interest

Question 19

Multiple Choice

Compute the compound interest.
-John Lee's savings account has a balance of $500\$ 500 . After 5 years, what will the amount of interest be at 5%5 \% compounded annually? Round to the nearest dollar.


A) $129\$ 129
B) $25\$ 25
C) $143\$ 143
D) $138\$ 138

Correct Answer:

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