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19 October, 12:35

Damons father started a college fund on Damons 8th birthday. He deposited $7500 into a certificate of deposit that yields an interest rate of 0.23% compounded annually. How much money will the certificate of deposit be worth when Damon turns 18 years old?

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  1. 19 October, 13:29
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    7500 with a interest of 0.23 for 10 years is 172.50 extra now if the intrest rate change ever year this answer isn't valid
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