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You deposit $3000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 20 years?

You deposit $3000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 20 years?
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2 votes
You deposit $3000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 20 years?

asked
User Alessandro Zago
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7.9k points

1 Answer

3 votes
The amount is @8358.7 and the interest is $3858.7.
answered
User Deluan
by
7.9k points
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