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Mathematics

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Kenny has $500 in a savings account. The interest rate is 4%, compounded annually.
To the nearest cent, how much will he have in 1 year?

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Answer:

After one year Kenny will have $520.

Step-by-step explanation:

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Answer:

$520

Step-by-step explanation:

500(0.04) = kenny's annual interest rate return= 20

500+20= total dollars kenny has in a year

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