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Need help with these two questions! 1. You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly.
Need help with these two questions!
1.You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 years? Round your answer to the nearest whole number and include units.
2.You invest an initial $1,000 in an account that has an annual interest rate of 2%, compounded quarterly. How much money will you have in the account after 5 years? Round your answer to the nearest whole number and include units.
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