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Suppose that when your friend was​ born, your​ friend's parents deposited ​$4000 in an account paying 5.4​% interest compounded . What will the account balance be after 19 ​years?

 Dec 14, 2020
 #1
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N=19; R=0.054;PV=4000; FV=PV*(1 + R)^N; print"FV =$",FV

 

FV =$ 10865.05

 Dec 14, 2020
 #2
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Guest answer is correct if assumed interest is compounded annually.....this is some important info you left off of your question....

   compounded :    annually?   Monthly?   Quarterly?......

 Dec 14, 2020

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