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At the time of a child's birth, $10,000 was deposited in an account paying 5% interest compounded semiannually. what will be the value of the account at the child's twenty-first birthday?

User Passerby
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1 Answer

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The amount of the account, A, after 21 years will be:

A=10,000(1.025)^(42)=28,209.95
The answer is $28,209.95.
User David Betts
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