Larry deposits $15,000.00 into his savings account that earns 9% interest compounded annually. How much money is in the account after 12 yea

Question

Larry deposits $15,000.00 into his savings account that earns 9% interest compounded annually. How much money is in the account after 12 years

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Sigridomena 1 year 2021-08-20T17:28:05+00:00 1 Answers 2 views 0

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    2021-08-20T17:29:08+00:00

    Answer:

    Answer: 31,200

    Step-by-step explanation:

    Every year, 9% interest, or $1,350, is being added to the account. $1,350×12=16,200

    16,200 + 15,000 = 31,200

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