If you deposit $2000 a year for 30 years into a bank account, with 3% interest compounded annually how much will you have after
1 answer:
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Answer:
Year 29 $2,956.63 Total Interest $40,643.25 Balance $48,443.25
Step-by-step explanation:
Base amount: $7,800.00
Interest Rate: 6.5% (yearly)
Effective Annual Rate: 6.5%
Calculation period: 29 years
