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QUESTION 1 You open an account today with a deposit of $10,000 . If the account pays a 7% interest rate, what will your account

QUESTION 1\ You open an account today with a deposit of

$10,000

. If the account pays a

7%

interest rate, what will your account balance be in six years? (Assume annual compounding and that no other deposits or withdrawals are made. Round your answer to the nearest cent.)

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You open an account today with a deposit of $10,000. If the account pays a 7% interest rate, what will your account balance be in six years? (Assume annual compounding and that no other deposits or withdrawals are made. Round your answer to the nearest cent.)

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