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You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?

You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?
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5 votes
You want to deposit $12,000 in a bank at an interest rate of 8 percent per year. What is the future value of this money after five years?

User Yuriy Tseretyan
by
9.1k points

1 Answer

5 votes
$17,631.94 is the correct answer.
User Jacka
by
8.5k points
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