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Mathematics

Answered

At the time of a child's birth, $10,000 was deposited in an account paying 5% interest compounded semiannually. what will be the value of the account at the child's twenty-first birthday?

Answer :

Today at 3:36 PM

The amount of the account, A, after 21 years will be:
[tex]A=10,000(1.025)^{42}=28,209.95[/tex]
The answer is $28,209.95.

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