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Suppose that 19years ago, a benefactor set up an account for your education. This benefactor made a single deposit of $20,000 that has been earning 6% interest compounded monthly. Since the deposit 19
Suppose that 19years ago, a benefactor set up an account for your education. This benefactor made a single deposit of $20,000 that has been earning 6% interest compounded monthly. Since the deposit 19 years ago, no money has been added to or taken from the account. Using a exponential function, what is the amount in the account?