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4 April, 01:50

You invest $4500 into a bank account that earns 2.5% apr monthly for 8 years. how much will be in the bank account at the end of 8 years? and how long will it take for your account to double in value?

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  1. 4 April, 02:42
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    4,500 * (1+0.025:12) ^ (12*8)

    =5,495.17

    72:2.5

    =28.8 years
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