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12 September, 14:01

Timothy invested $1,500 in a company retirement account that pays 4% annual interest, compounded monthly. Find the value of his investment after 20 years.

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Answers (2)
  1. 12 September, 15:49
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    Answer is A=3,333.87
  2. 12 September, 16:49
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    A=1,500 * (1+0.04:12) ^ (12*20)

    A=3,333.87
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