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Suppose you invest $1000 in an account paying 6% interest per year. a. What is the balance in the account after 3 years? How much

Suppose you invest $1000 in an account paying 6% interest per year.

a. What is the balance in the account after 3 years? How much of this balance corresponds to interest on interest?

b. What is the balance in the account after 35 years? How much of this balance corresponds to interest on interest?

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