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Linda invests $15,000 in a retirement account that pays 9%interest compounded monthly.

How much will she have in this account after 5 years?

  • math -

    amount = 15000(1+.09/12)^60
    = 23 485.22

    (I am sitting in a coffee shop with my laptop, taking advantage of their wireless , I typed the above calculation into Google, so please check on your calculator)

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