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A small telecommunications company invested its 2010 net income of $629,000 in a savings account for 4 years and 2 months. Money was earning interest

A small telecommunications company invested its 2010 net income of $629,000 in a savings account for 4 years and 2 months. Money was earning interest at a rate of 5.30% compounded monthly.

a. Calculate the amount it would have in this account at the end of the period.

b. Calculate the interest earned.

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