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16 February, 14:35

Lauren invested $340 in an account paying an interest rate of 5.8% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 13 years?

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  1. 16 February, 14:49
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    A = P (1 + rt)

    A=340 (1+.58x13)

    2903.6
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