Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest, compounded monthly.

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Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest, compounded monthly. If she opened her account when she was 20 years old, how much will she have by the time she’s 55? How much of that amount was interest earned?

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Precalculus

ISBN: 9781938168345

1st Edition

Authors: Jay Abramson

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