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ou deposit $ 1 , 0 0 0 in your bank account. If the bank pays 4 % simple interest, how much will you accumulate

ou deposit $

1, 000

in your bank account.

If the bank pays

4 %

simple interest, how much will you accumulate in your account after

10

years?

How much will you accumulate if the bank pays compound interest?

Note: Do not round intermediate calculations. Round your answer to

2

decimal places.

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