# My Bank Balance

My back pays me 4% simple interest compounded annually. If I deposit one hundred dollars at the beginning of each year for five years, what would be my balance at the end of five years?

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My back pays me 4% simple interest compounded annually. If I deposit one hundred dollars at the beginning of each year for five years, what would be my balance at the end of five years?

4 Comments

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$560

ans ) $ 563.28