Final balance after 30 years: $6,936.71
Total amount contributed: $1,000
Total interest earned: $5,936.71
You invest $1,000 (one time) at a rate of 6.25% APR compounded monthly for 30 years.
What is the final balance after 30 years?
What is the total amount that you contributed out of your pocket?
What is the total interest earned?
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