Question
Asked Feb 18, 2020
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Lee put $10,000 into stock market index mutual fund that grew at an average of 7% per year for 10 years. About how much is in Lee's mutual fund account after 10 years? Ignore compounding.

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Expert Answer

Step 1

Given:

Lee put $10,000 into the stock market index mutual fund that grew at an average of 7% per year for 10 years.

Algebra homework question answer, step 1, image 1

 

Step 2

Algebra homework question answer, step 2, image 1

 

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