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6. Kent will make the following deposits into his savings account: $1,000 in 2 years and $2,000 in 4 years. The bank pays interest at

6. Kent will make the following deposits into his savings account: $1,000 in 2 years and $2,000 in 4 years. The bank pays interest at 3% p.a. compounded monthly for the first 3 years and 4% p.a. compounded quarterly thereafter. Which of the following is the correct balance in the savings account in 7 years? (2 marks) A. $3454.68 B. $3,536.51 C. $3,461.89 D. $3103.81

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