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A Father Invests $7500\$ 7500 In a Savings Account That Earns 5.4%5.4 \%

Question 101

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A father invests $7500\$ 7500 in a savings account that earns 5.4%5.4 \% interest compounded annually when his child is born. What will the value of the account be after 18 years when the child is ready to go to college or university?

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