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25 September, 22:12

Suppose your friend's parents invest $10,000 in an account paying 4% compounded annually. What will the balance be after 10 years?

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  1. 25 September, 23:18
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    Using exponential function f (x) = 10,000 (1.04) ^x

    when x=10 years

    the answer would be 14,802.44
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