At birth, Maria's parents set aside $7000 in an account designated to help pay for her college education. How much will Maria account be worth by her 18$^{th}$ birthday if the interest rate was 8.4% compounded annually? Round the answer to the nearest cent.
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P = the principal amount (initial deposit) r = the annual interest rate (in decimal) n = the number of years the money is invested for Show more…
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