You are going to deposit $20,500 today, what you will have in your account in 31 years is mathematically given as
A=60824.276
What is Compound Interest?
Generally, the equation for Compound Interest is mathematically given as
A=P(1+r/100)^n
Therefore
A=$20500*(1.039)^14*(1.033)^17
A=$20500*2.967038158
A=60824.276
In conclusion, the compound interest
A=60824.276
Read more about compound interest
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