You deposit $4000 each year into an account earning 4% interest compounded annually. How much will you have in the account in 15 years
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You deposit $4000 each year into an account earning 4% interest compounded annually. How much will you have in the account in 15 years?
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- Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly. How much money will he have saved after 5 years?