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You deposit $200 in an account earning 2% interest compounded annually. How much will you have in the account in 20 years?

User Tags
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2 Answers

2 votes
$297.19
=200x(1+2%/1)^(20x1)
=$200x (1+2% interest/1 compounded annually)^(20 years x 1 compounded annually)
User Xuyang
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3 votes

Answer:

221

Explanation:

Interest goes up 5 dollar each year

User Ngoc
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