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3. (12 pts) Compute the balance in an account that earns 2.4% APR (annual nominal rate) if $5400 is deposited for 9 years with interest

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3. (12 pts) Compute the balance in an account that earns 2.4% APR (annual nominal rate) if $5400 is deposited for 9 years with interest (round to the nearest cent): (a) compounded monthly (b) compounded continuously (c) Find the effective annual yield (APY) for each of the accounts above. Keep accurate to 5 decimal places so you can give percentages to 3 decimal places. Effective annual percentage rate (APY) for part (a) % per year. Effective annual percentage rate (APY) for part (b) % per year

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