otpimisticjoy8526 otpimisticjoy8526

04-05-2018
Mathematics

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Suppose your friend’s parents invest $20,000 in an account paying 5% interest compounded annually. What will the balance be after 10yr?

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TheBusinessMan TheBusinessMan

08-05-2018

Answer: $32,577.90

A = P (1+ r/n)^nt
P= 20000
R = .05
n = 1
t = 10

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