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Posted on Aug 08, 2024

Suppose you deposited $ 4 8 , 0 0 0 in a bank account that pays 5 . 2 5 % with daily compounding based

Suppose you deposited $

48, 000

in a bank account that pays

5.25 %

with daily compounding based on a

360 -

day year. How much would be in the account after

8

months, assuming each month has

30

days?

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