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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?

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?

asked
User Luckylooke
by
7.6k points

2 Answers

3 votes

Answer:

13660. 27

if you're on Plato

Explanation:

20 000/ (1+.10)*4

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

answered
User Natetitterton
by
8.3k points
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