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You deposit $50 on your 18th birthday. You leave it in an account that earns 2.1% annual interest. How much is in the account on your 80th birthday? (Let's just pretend you are a patient person.)

Guest Apr 24, 2017
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80 - 18 = 62 years

FV = PV x [1 + R]^N

FV = 50 x [1 + 0.021]^62

FV = 50 x  3.6274....

FV = $181.37 - The amount in your account by age 80.

Guest Apr 24, 2017

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