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Suppose a bank is offering a short term savings plan, where, if you agree not to withdraw them for 4 years, your invested funds will
Suppose a bank is offering a short term savings plan, where, if you agree not to withdraw them for 4 years, your invested funds will earn 8%. Suppose you deposit $10,000 in one year, $20,000 in two years, $30,000 in three years, and $40,000 in four years. Calculate your account balance in each year. (Hint: drawing a timeline might be helpful.)
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