SOLUTION: How much would $120 invested at 6% interest compounded annually be worth after 21 years? Round your answer to the nearest cent. Do not include units in your answer.

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Question 204835: How much would $120 invested at 6% interest compounded annually be worth after 21 years? Round your answer to the nearest cent. Do not include units in your answer.


Answer by Alan3354(21611) About Me  (Show Source):
You can put this solution on YOUR website!
How much would $120 invested at 6% interest compounded annually be worth after 21 years? Round your answer to the nearest cent. Do not include units in your answer.
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FV = $120*(1 + 0.06)^21
FV = $120*3.335636
FV = $407.95