Suppose that a person deposits 10.000 dollars in a savings account at a bank yielding % 11 per year with interest compounded annually. How much will be in the account after 10 years, 20 years, 30 years?

College Algebra
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ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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14. Suppose that a person deposits 10.000 dollars in a savings account at a bank
yielding % 11 per year with interest compounded annually. How much will be
in the account after 10 years, 20 years, 30 years?
Transcribed Image Text:14. Suppose that a person deposits 10.000 dollars in a savings account at a bank yielding % 11 per year with interest compounded annually. How much will be in the account after 10 years, 20 years, 30 years?
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