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3. Jim deposits $10,000 in a savings account that advertises 3% interest, compounded monthly. a) What are the annual percentage rate (APR) and annual percentage

3. Jim deposits $10,000 in a savings account that advertises 3% interest, compounded monthly." a) What are the annual percentage rate (APR) and annual percentage yield (APY) for this account? b) If Jim closes his account at the end of the third year, what amount will he receive assuming that he pays no penalties or fees

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