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27 November, 16:43

Billy invested his $3500 graduation gift into a (compound interest) Roth account that pays twelve percent. If he is 18 years old now, how much will be in the account at age 30?

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  1. 27 November, 17:52
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    T=30-18=12 years

    A=p (1+r) ^t

    A=3,500 * (1+0.12) ^ (12)

    A=13,635.92
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