A person invests 2,000 a year in a retirement account, how much will they have?

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A person invests 2,000 a year in a retirement account, how much will they have?

 

a. In 5 years at 6% $2,697.70

b. In 20 years at 10% $14,656.14

c. In 40 years at 12% $237,295.45

What patterns did you observe as time or interest rates change and why?

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