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20 November, 01:29

Mr. Evans deposited $1,200 in a new account at his bank. The bank pays 8% interest compounded annually on this account. Mr. Evans makes no additional deposits or withdrawals. How much money will the account have at the end of 8 years?

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  1. 20 November, 04:55
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    The final balance is $2,270.95.

    The total compound interest is $1,070.95
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