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a . You deposit $ 1 , 6 0 0 in your bank account. If the bank pays 4 % simple interest, how much will
a You deposit $ in your bank account. If the bank pays simple interest, how much will you accumulate in your account after years?
Future value
$
b What if the bank pays compound interest annuallyDo not round intermediate calculations. Round your answer to decimal places.
Compound
interest
c How much of your earnings will be interest on interest? Round your answer to decimal places.
Interest on interest
$
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