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What is the total amount that should expect to receive

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Problem 1: Suppose an investor deposits $27,000 in an interest-bearing account at her local bank. The account pays 2.5% interest compounded annually. If the investor plans on withdrawing the original principal plus accumulated interest at the end of 7 years, what is the total amount that she should expect to receive assuming interest rates do not change?

Reference no: EM132841367

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