ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Honour invested $200 in a retirement account that had a rate of 20% that is compounded annually. If Honour puts the money in when he is 24 years old and takes it out when he is 64 years old, how much money will be in his account rounded to the nearest dollar?
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$29, 395
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$293, 955
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$293, 954
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$29, 396
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Explanation:
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