If You Deposit $100 into an Account That Pays $5 \%$

question 12

Short Answer

If you deposit $100 into an account that pays $5 \%$ APR compounded annually, what would be the value in the account after 30 years? $\$$$\underline{\quad\quad}$

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Definitions:

Demand (D)

In economic terms, the quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Substitute

A good or service that can be used in place of another, allowing consumers to switch between them based on price, preference, or availability.

Equilibrium

A situation where the supply and demand in the market are equal, leading to stable prices.

Margarine

A spread used as a substitute for butter, made from vegetable oils or animal fats.