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OpenStudy (anonymous):
Miranda wants to give her 14-year-old daughter $20,000 when she turns 18. How much does she need to put in the bank now if the interest rate is 10 percent per year?
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Parth (parthkohli):
Compound or simple?
OpenStudy (anonymous):
compound.
OpenStudy (anonymous):
compound.
Parth (parthkohli):
\[\LARGE C.I. = P(1 + {r \over 100})^{n}\]
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