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Problem regarding the percent annual interest

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Bob Terwilliger rece3ived $12,345 for his services as financial consultant to the mayors office of his hometown in Springfield. Bob says that is consulting work was his civic duty and that he should not receive any compensation. So, he has invested his paycheck into an account paying 3.98 percent annual interest and left the account in his will to the city of Springfield on the condition that the city would not collect any money from the account for 200 years. How much money will the city receive from Bobs generosity in 200 years?

Reference no: EM13961045

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