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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?
Group of answer choices
$13,134.24
$13,018.28
$10,312.50
$2,323.66
Please answer using an excel formula.
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