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Question 2. Suppose that you deposit $1000 in a bank that offers an annual percentage rate of 3.7% compounded monthly a. [2 points) What is

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Question 2. Suppose that you deposit $1000 in a bank that offers an annual percentage rate of 3.7% compounded monthly a. [2 points) What is your account balance after one year? b. 12 points) What is your account balance after 5 years? c. 12 points What is the annual percentage yield for this account? (Recall that the annual percentage yield is the percentage change in the account for one year, in this case in 12 months)

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