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6 October, 06:37

Suppose that you invest $6000 into a high yield Savings account that earns 2% annual interest and is compounded monthly. If you do not deposit or withdraw any money from the account, how much money will be in the account after 20 years?

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  1. 6 October, 06:52
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    Answer $15,000

    Explanation

    20*4%=0.4

    6,000:0.4=15,000
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