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If Bob and Judy combine their savings of ​$1,700 and ​$600​, ​respectively, and deposit this amount...

If Bob and Judy combine their savings of ​$1,700 and ​$600​, ​respectively, and deposit this amount into an account that pays 7% annual​ interest, compounded​ monthly, what will the account balance be after 13 ​years?The account balance in 13 years will be

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Answer #1

Hence, BOB and JUDY would make $5,698.85 after 13 years for $2,300 deposited now for compound interest @7% .

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