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7. (20 points) You decide to make annual deposits into a savings account. The savings account pays 3.2% compounded annual interest. You open the
7. (20 points) You decide to make annual deposits into a savings account. The savings account pays 3.2% compounded annual interest. You open the account today with a $200 deposit. At the end of year 1, you deposit $400 and at the end of year 2 and year 3, you deposit $600. How much should you have at the end of 4 years? Use a table interest formula.
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