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Determine the amount of money in a savings account at the end of three years. given an initial deposit of $5,000 and an 16 percent

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Determine the amount of money in a savings account at the end of three years. given an initial deposit of $5,000 and an 16 percent annual interest rate when interest is compounded (a) annually, (b) semiannually, and ( C quarterly. (Use a Financial calculator to arrive at the answers. Round the final answers to the nearest whole dollar.) Calculate the effective annual interest rate of each compounding possibility. (Use a Financial calculator to arrive at the answers. Round the final answers to 2 decimal places.)

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