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You place $2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years
compound interest formula: A=P(1+r)^n, P=initial investment, r=interest rate per period. n=number of periods, A= initial investment after n years
for given problem:
nterest rate per period=45%
number of periods=21/3=7
After 21 years, $26,953, will be in your account