On August 8 1981 American Savings offered an insured tax free account paying 23 24...

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On August 8 1981 American Savings offered an insured tax free account paying 23 24 compounded monthly If you had invested 80 000 at that time how much would you have on August 2014 assuming that you could have locked the interest rate at the time of deposit Use the formula nt A 1 P 1 for n 12 Round your answer to the nearest cent

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