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# 1. A deposit of $5,000 is made into a savings account which earns 3 3/4% interest compounded annually. If no additional deposits or withdrawals are made, which amount is the total balance at the end o

1. A deposit of $5,000 is made into a savings account which earns 3 3/4%

interest compounded annually. If no additional deposits or withdrawals are made, which amount is the total balance at the end of 10 years?

A) $6,719.58

B) $6,875.00

C) $7,225.22

D) $7,401.22

2. Layla deposits $1000 in a savings account for college. Her account earns 4% interest compounded annually. How much interest does Layla earn after 10 years?

A) 1480.24

B) 2480.24

C) 480.24

D) 400

3. Suppose you have two savings accounts, both with a principal of $100 and an interest rate of 5%, but one earns simple interest and one earns interest compounded annually. How much more interest will the account with compound interest earn after 10 years?

A) $12.89

B) $50.00

C) $62.89

D) $162.89

4. A savings account of $5,000 for 12 years, compounded at an annual interest rate of 6.25%.

Find the total amount saved.

A) $8,349.45

B) $10,060.98

C) $10,349.45

D) $5,349.45