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Compound Interest A principal of $2000 is placed in a savings account at 3% for a year. How much is in the account after one

Compound Interest

A principal of $2000 is placed in a savings account at 3% for a year.

How much is in the account after one year if it is compounded Yearly?

How much is in the account after one year if it is compounded Monthly?

How much is in the account after one year if it is compounded Daily?

In general do you want to invest in an account that compounds more often or less often?

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