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20 years ago you invested money into an account that earned 15% interest compou…
Related Topics
Wize University Introduction to Finance Textbook > Time Value of Money
Compound Interest
3 Activities
20 years ago you invested money into an account that earned 15% interest compounded annually. Today you have $130,932.30 in this account.
How much did you invest initially?
How much interest-on-interest was earned in the 20 years?
I don't know
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More Compound Interest Questions:
Tina took out a $20,000 pure-discount loan that matures in 7 years. The rate is 6%. How much will she repay at the end of 7 years?
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Round your work to at least 6 decimal places and final answer to 2 decimal places.
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