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Hattie has recently inherited $9900, which she wants to deposit into an IRA account. She has determined that her two best bets are an
Hattie has recently inherited $9900, which she wants to deposit into an IRA account. She has determined that her two best bets are an account that compounds daily at an annual rate of 3.1 % (Account 1) and an account that compounds semi-annually at an annual rate of 2.8 % (Account 2). Step 2 of 2: How much would Hattie's balance be from Account 1 over 5.2 years? Round to two decimal places.
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