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Katrina opens a savings account with a deposit of $2,500. She deposits $500 six months later and $800 nine months after opening the account.
Katrina opens a savings account with a deposit of $2,500. She deposits $500 six months later and $800 nine months after opening the account. The balance in Katrina's account one year after she opened it is $5,012. Assuming that the account grows by compound interest at a constant annual effective interest rate i, find i. HINT: You might need to use Newton's Method. If so, indicate your equation of value.
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