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1. If you invest $2,500 in a high-yield savings account with a 7.52% annual interest rate (compounded quarterly)... a) (2 points) What will the
1. If you invest $2,500 in a high-yield savings account with a 7.52% annual interest rate (compounded quarterly)... a) (2 points) What will the account's balance be in 6 years? b) (2 points) How long will it take for any deposit to triple in this account? Round to the nearest hundredth of a year.
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a To find the balance after 6 years we can use the formula for compound interest ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
