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#21. Five thousand dollars is deposited into a savings account at 4.1% interest compounded annually. What are the balances after 1, 2, and 3 years?

#21.

Five thousand dollars is deposited into a savings account at 4.1% interest compounded annually. What are the balances after 1, 2, and 3 years? How many years are required for the balance to reach $7,178.38?

After how many years will the balance exceed $7,500?

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