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Problem in economics, finance, business A bank pays 6% interest per year, compounded quarterly. To what amount will a $5000 deposit grow if left in

image text in transcribed Problem in economics, finance, business

A bank pays 6% interest per year, compounded quarterly. To what amount will a $5000 deposit grow if left in that bank for 10 years? Ans. $9070.09 4.20 Repeat Problem 4.19 for annual compounding. Ans. $8954.24

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