The money in the Felix's account will be $6798 when he is 21.
<u>Step-by-step explanation:</u>
It is given that,
- The amount deposited is $2000.
- The account earns 6% compound interest.
- It is compounded annually for 21 years.
<u>To find the money in Felix's account after 21 years :</u>
The formula used here is,
⇒ 
where A is the amount after 21 years.
- P is the initial amount deposited ⇒ P = 2000
- r is the rate ⇒ r = 0.06
- n is the number of times interest is compounded per year⇒ n = 1
- t is the time period ⇒ t = 21
⇒ 
⇒ 
⇒ 
⇒ 
Therefore, The money in the Felix's account will be $6798 when he is 21.
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1
Step-by-step explanation:
A linear equation (degree 1) will have one root. A quadratic equation (degree 2) will have two roots. A cubic equation (degree 3) will have three roots. An nth degree polynomial equation will have n roots.