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OpenStudy (anonymous):
Michelle invests $8000 in a money market account that pays 3.25% interest compounded monthly. How much will be in the account after 12 years?
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OpenStudy (tkhunny):
This is your accumulatiob formula for a single payment. \(8000\left(1 + \dfrac{0.0325}{12}\right)^{12*12}\)
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