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Sandra Robinson has $25,000 that she can deposit into a savings account for five years. Bank A compounds interest annually, Bank B twice a year,
Sandra Robinson has $25,000 that she can deposit into a savings account for five years. Bank A compounds interest annually, Bank B twice a year, and Bank C quarterly. Each bank has a stated interest rate of 5 percent. What account balance would Sandra have at the end of the fifth year if she left all the interest paid on the deposit in each bank?
Future Value Bank A- ?
Future Value Bank B-?
Future Value Bank C-?
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