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$6167.96 was wrong. You have just deposited $3,500 in an unusual bank account that pays interest biannually (once every 2 years). If the 2 -year
$6167.96 was wrong.
You have just deposited $3,500 in an unusual bank account that pays interest biannually (once every 2 years). If the 2 -year interest rate is 12% (total interest over 2 years is 12%, not 12% per year), how much will you have in the account after 10 years? After 10 years, the amount you will have in the account is $ (Round to the nearest cent.)Step by Step Solution
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