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Solve clearly 6) You invest $2,500 at the beginning of each year into an account earning 4% effective annual in- terest. You reinvest the interest

Solve clearly

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6) You invest $2,500 at the beginning of each year into an account earning 4% effective annual in- terest. You reinvest the interest earned at the end of each year into a second account that will earn you 3% effective annual interest. How much is in the second account after 50 years? Also, fill in the following table (or, redraw the table on your solution sheet being handed in and fill it in). Year 0 2 3 4 49 50 Amount in Ist account Amount deposited into 2nd account

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