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(1.5) 3. Kevin has just opened a savings account in a local bank and deposited $3,000. If the annunal interest is 8% (per year) but

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(1.5) 3. Kevin has just opened a savings account in a local bank and deposited $3,000. If the annunal interest is 8% (per year) but interest is paid semiannually (every 6 months), calculate the balance of his account in 6 years from today (hint: identify the number of periods and the interest rate per period and then use the Excel sheet to do the calculation)

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