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18 January, 16:19

Salvador inherited $20,000 and he plans to invest it into a savings account that earns 6% interest compounded annually. Assuming he makes no additional deposits or withdrawals, what will be the total value of Salvador's account after 10 years?

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  1. 18 January, 19:08
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    Step-by-step explanation:

    initial value (1 + percent of interest in decimal form) ^ (years)

    20,000 (1.06) ^10

    = $35816.95393
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