[Solved] 4) You just deposited $ 1,000 in a bank a

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4) You just deposited $ 1,000 in a bank account. The bank pays 8% interest rate over 2-year period (total interest over 2 years is

4) You just deposited $ 1,000 in a bank account. The bank pays 8% interest rate over 2-year period (total interest over 2 years is 8%, not 8% per year). How much will you have in the account after 6 years?

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