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10. (a) What is 6.5% of $1,600? (b) How much interest will be earned if $1,600 is kept in a savings account at 6.5% compounded

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10. (a) What is 6.5% of $1,600? (b) How much interest will be earned if $1,600 is kept in a savings account at 6.5% compounded monthly for 1 year

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