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Erin Andrews - Age, Bio, Family | Famous Birthdays

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Erin Andrews - Age, Bio, Family | Famous Birthdays
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Question**: A bank offers a compound interest rate of 5% per annum, compounded annually. If you deposit $1000, how much will the amount be after 3 years?
Solution**: The formula for compound interest is:
\[ A = P(1 + r)^n \]

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