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Calculate the interest earned during the twenty years

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Reference no: EM131607271

Question: A person deposits money into a retirement account, which pays 7% interest compounded continuously, at a rate of $1000 per year for 20 years. Calculate:

(a) The balance in the account at the end of the 20 years.

(b) The amount of money actually deposited into the account.

(c) The interest earned during the 20 years.

Reference no: EM131607271

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