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In Year 0, you deposit $5,000 into an account with an interest rate of 6%. Two years later, the interest rate increases to 8%. Five
In Year 0, you deposit $5,000 into an account with an interest rate of 6%. Two years later, the interest rate increases to 8%. Five years after that, the interest rate drops to 7%. You plan to withdraw all the money at the end of Year 15. a. At the end of Year 2, how much money is in the account? b. At the end of Year 7, how much money is in the account? c. At the end of Year 15, how much money is in the account? a. At the end of Year 2, how much money is in the account? $ | (Round to the nearest cent - 2 decimal places) b. At the end of Year 7, how much money is in the account? $ (Round to the nearest cent - 2 decimal places) c. At the end of Year 15, how much money is in the account? $ (Round to the nearest cent - 2 decimal places)
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