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If a compound interest rate table reveals that the future value of 1 after 18 years at a 5% rate of interest is 2.40662, to
If a compound interest rate table reveals that the future value of 1 after 18 years at a 5% rate of interest is 2.40662, to what amount will $1,500 grow by the end of 18 years if it is invested at a compound annual rate of interest of 5%?
$1,575.02 | ||
$2,123.28 | ||
$3,609.93 | ||
$27,000.20 |
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