Danny deposits $12,500 into a pension fund that invests in stocks. After a successful two years of investing in the stock market, the fund agrees to pay a simple interest rate of 12% per year. What will the balance on the account be after two years earning interest at this rate? Round your answer to the nearest dollar.
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Home » Mathematics » Danny deposits $12,500 into a pension fund that invests in stocks. After a successful two years of investing in the stock market, the fund agrees to pay a simple interest rate of 12% per year.