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A person receives a tax refund of $1,200 and decides to invest the money in a bond fund. The expected return on the fund is

A person receives a tax refund of $1,200 and decides to invest the money in a bond fund. The expected return on the fund is 5% per year, compounded annually. If this person sticks with the investment for 20 years, how much will they have in 20 years

what is the formula

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