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Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit $1,000 in the bank and leave it there: (Do not round
Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit $1,000 in the bank and leave it there: (Do not round intermediate calculations. Round your answers to 2 decimal places.)
a. How much interest will you earn in the second year?
b. How much interest will you earn in the 10th year?
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