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Posted on Sep 05, 2024

Suppose you invest ( $ 1 , 2 0 0 ) in an account paying ( 7 % )

Suppose you invest

\ (\

1, 200 \)

in an account paying

\ (7 \ % \)

interest per year. a

.

What is the balance in the account after

2

years? How much of this balance corresponds to "interest on interest"? b

.

What is the balance in the account after

28

years? How much of this balance corresponds to "interest on interest"?

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