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At the time of her grandson's birth, a grandmother deposited $9,000 in an account. The account was paying 4.0% interest compound monthly. a. If the
At the time of her grandson's birth, a grandmother deposited $9,000 in an account. The account was paying 4.0% interest compound monthly.
a. If the rate did not change, what was the value of the account after 17 years?
b. If the money had been invested at 4.0% compound quarterly, what would the value of the account have been after 17 years?
a. The value of the account will be ______________
( Round to the nearest cent.)
b. The value of the account will be________
( Round to the nearest cent.)
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