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A bank advertises a savings account with an annual percentage rate ( APR ) of 1 0 % with quarterly compounding. If you decide to

A bank advertises a savings account with an annual percentage rate

(

APR

)

10 %

with quarterly compounding. If you decide to deposit $

10, 000

into the account, how much total interest will you have earned by the end of one year, assuming you do not make any withdrawals from the account during the year?

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