Asked by chloe

Suppose your​ friend's parents invest $20,000 in an account paying 5% compounded annually. What will the balance be after 66 ​years?
Answered by Reiny
What is 20000(1.05)^66 ?
Answered by chloe
500637.911743
Answered by chloe
is that the answer?
Answered by Reiny
Yes, except since this is money in dollars you would round it to the nearest cent.

$500,637.91
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