SOLUTION: While going through some items of his dead grandmother, Deigo discovers that she deposited $500 at a 3% annual interest rate in a savings account for him fifty years ago. How much
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Question 1036028: While going through some items of his dead grandmother, Deigo discovers that she deposited $500 at a 3% annual interest rate in a savings account for him fifty years ago. How much money is in the account? Assume interest was compounded annually.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=500(1.03)^50
FV=500(4.384)
FV=$2192
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