If you put $6,000 in a savings account that pays interest at the rate of 4 percent, compounded annually, how much will you have in

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If you put $6,000 in a savings account that pays interest at the rate of 4 percent, compounded annually, how much will you have in 5 years? (Hint: Use the formula.) How much interest will you earn during the 5 years? If you put $6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after 5 years?

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