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Related to Checkpoint 5.2) (Future value) Leslie Mosalam, who recently sold her Porsche, placed $8,400 in a savings account paying annual compound interest of 7
Related to Checkpoint 5.2) (Future value) Leslie Mosalam, who recently sold her Porsche, placed $8,400 in a savings account paying annual compound interest of 7 percent a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 3, 7 and 17 year(s). b. Suppose Leslie moves her money into an account that paya percent or one that pays 11 percent. Rework part (a) using 9 percent and 11 percent c. What conclusions can you draw about the relationship between interest rates, time, and future sums from the calculations you just did? a Atter placing $8,400 in a savings account paying annual compound interest of 7 percent, the amount of money that will accumulate if Leslie leaves the money in the bank for 3 year(s) is $(Round to the nearest cent.)
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