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Emily plans to save for a down payment on a house. She saves $ 1 0 0 0 per quarter from her salary and decides
Emily plans to save for a down payment on a house. She saves $ per
quarter from her salary and decides to deposit the money into a savings
account that pays interest at a rate of compounded monthly. Use this
information to answer the following questions.
Question
What would be the balance of Emily's savings account at the end of years?
Answer to the nearest dollar.
Question
Assume Emily still saves $ per quarter for two years, but instead she
deposits the money into a savings account that pays interest at a rate of
compounded semiannually. What would the balance of her savings account be
at the end of years? Answer to the nearest dollar.
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