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Suppose that you deposit $7000 in a savings account that pays 9% annual interest, with interest credited to the account at the end of each
Suppose that you deposit $7000 in a savings account that pays 9% annual interest, with interest credited to the account at the end of each year. Assuming that no withdrawals are made and that interest is compounded annually, complete parts (a) and (b) below. (a) Find the balance in the account after 5 years is (b) Find the balance in the account after 6 years and 8 months is
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