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When Lauren was born on January 1, 1990, her grandparents put $1000 in a savings account in her name. The account earned 7.5% annual interest. To the nearest dollar, how much money was in her account when she turns two?

 Nov 14, 2020
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A =  original amount ( 1 + interest rate as a decimal ) ^(number of years of accrual)

 

A =  1000 ( 1+ .075)^2  =  $1155.63

 

cool cool cool

 Nov 14, 2020

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