SOLUTION: Suppose that ​$20,000 is invested at 6​% interest. Find the amount of money in the account after 10years if the interest is compounded annually.

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Question 1199842: Suppose that ​$20,000 is invested at 6​% interest. Find the amount of money in the account after 10years if the interest is compounded annually.
Answer by ikleyn(52792) About Me  (Show Source):
You can put this solution on YOUR website!
.

    future value = 20000%2A%281%2B0.06%29%5E10 = 2000%2A1.06%5E10.

    Use your calculator.

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To see many other similar  (and different)  solved problems on compounded interest accounts,  look into the lesson
    - Compounded interest percentage problems
in this site.

Learn the subject from there.