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Miranda wants to give her 14-year-old daughter $20,000 when she turns 18. How much does she need to put in the bank now if the interest rate is 10 percent per year?
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4 votes
Miranda wants to give her 14-year-old daughter $20,000 when she turns 18. How much does she need to put in the bank now if the interest rate is 10 percent per year?

User Luckylooke
by
7.6k points

2 Answers

3 votes

Answer:

13660. 27

if you're on Plato

Explanation:

20 000/ (1+.10)*4

User Brett Green
by
8.5k points
2 votes
i believe the answer is 13660.27

User Natetitterton
by
8.3k points
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