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Twyla puts $1000 in a saving account that pays 4% interest, compounded monthly. How much money will in the account 11 years later if she makes no more deposits?

Respuesta :

sqdancefan

Answer:

  $1551.57

Step-by-step explanation:

Each month, the account balance is multiplied by 1+.04/12, so after 132 months, it will be ...

  $1000×(1 +.04/12)^132 ≈ $1551.57

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