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Investment with Compound Interest
Invest $10,000, 5% interest, compounded annually
Year
|
Balance
|
0
|
$10,000
|
1
|
$10,500
|
2
|
$11,025
|
3
|
$11,576.25
|
4
|
$12,155.06
|
5
|
$12,762.82
|
When will the balance be at least $20,000?
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