# Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises: 10

1.05; 1.05

#### Work Step by Step

Since we use an interest rate of 5%, we multiply by 1.05. Since the time period is two years, we multiply by 1.05 twice. Therefore: $\$3000*1.05*1.05=\$3307.50$

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