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Old Time Savings Bank pays 7.75% interest on its savings account. If you deposit $1,000 in the bank and leave it there: a. How much
Old Time Savings Bank pays 7.75% interest on its savings account. If you deposit $1,000 in the bank and leave it there: a. How much interest will you earn in the first year? (Round your answer to 2 decimal places.) b. How much interest will you earn in the second year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. How much interest will you earn in the tenth year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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