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Carol wants to have $13,000 when she turns 30. Right now, she's 23 (7 years difference). She has $5,500 that she can invest in a

Carol wants to have $13,000 when she turns 30. Right now, she's 23 (7 years difference). She has $5,500 that she can invest in a mutual fund. If she leaves the money in this account for the full 7 years and it earns 12.5%, compounding quarterly, how much will be in the account?

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$13,134.24

$13,018.28

$10,312.50

$2,323.66

Please answer using an excel formula.

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