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Ji-won invests 6,943.05 into a fund today. The fund earns an annual effective interest rate of 5%. At the end of each year, she withdraws
Ji-won invests 6,943.05 into a fund today. The fund earns an annual effective interest rate of 5%. At the end of each year, she withdraws the interest earned and deposits it immediately into a second fund earning an annual effective interest rate of 4%. Find the total Ji-won will have in the two funds at the end of 10 years.
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