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Andy's dream is to own and run a toy shop. He wants to open it up 9 years from now, when he can save up
Andy's dream is to own and run a toy shop. He wants to open it up 9 years from now, when he can save up enough money to get the inventory. He will set aside the $2,000 he has today in a mutual fund that focuses on high-risk, high return stocks. Andy needs $6,000 for the opening inventory of the toy shop. If this mutual fund earns an annual return of 12.5% over the 9 years, how much money will be in the account when Andy plans to open?
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