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06-12-2018
Mathematics

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Suppose that you invest $6000 into a high yield Savings account that earns 2% annual interest and is compounded monthly. If you do not deposit or withdraw any money from the account, how much money will be in the account after 20 years?

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Answer421 Answer421

09-12-2018

Answer $15,000
Explanation
20×4%=0.4
6,000÷0.4=15,000

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