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3 years ago

12

Suppose your friend's parents invest $15,000 in an account paying 7% compounded annually. What will the balance be after 6 years

?

1 answer:

kykrilka [37]3 years ago

6 0

Answer:

$22,510.96

Step-by-step explanation:

Final investment value

$22,510.96

Total interest earned

$7,510.96

Initial balance

$15,000.00

Total monthly deposits

$0.00

Effective Annual Rate (APY)

7%

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