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help Determine the amount of money in a sayings account at the end of three years, given an initial deposit or $11,000 and an 12
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Determine the amount of money in a sayings account at the end of three years, given an initial deposit or $11,000 and an 12 percent annual interest rate when interest is compounded (a) annuaily. (b) semiannually and (c) quarterly (Use o financial colculator to arrive ot the onswers. Round the final onswers to the nearest whole dollar.) Calculate the effective annual interest rate of each compouncing possibulity (Use a Financial colculator to arrive at the answers. Round the final answers to 2 decimal places.) Step by Step Solution
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