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14 August, 13:40

Word Problem

Felix's parents opened a savings

account for him when he was born with

a $2,000 deposit. The account earns 6%

compound interest, compounded

annually. How much money will be in

Felix's account when he is 21?

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Answers (1)
  1. 14 August, 14:55
    0
    when Felix is 21 he will have $4520 in his bank account
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