Earns an annual interest rate

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Please help me find which formula to use to solve the below question.

You placed $5,296 in a savings account today that earns an annual interest rate of 7 percent compounded annually. How much you will have in this account at the end of the 32 years? Assume that all interest received at the end of the year is reinvested the next year.

Reference no: EM132007233

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