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4 years ago

9

You deposit $2000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35

years?

1 answer:

Hoochie [10]4 years ago

5 0

The formula is
A=p (1+r)^t
A future value?
P present value 2000
R interest rate 0.06
T time 35 years
A=2,000×(1+0.06)^(35)
A=15,372.17

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