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Suppose your parents invest $25,000 in an account paying 7% compounded annually. What will be the balance after 8 years?
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Suppose your parents invest $25,000 in an account paying 7% compounded annually. What will be the balance after 8 years?

User Gomad
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$25,000 x 7% = 1,750 in one year.
$1,750 x 8 years = $14,000
User Clauswey
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