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The accompanying table, , shows a series of transactions in a savings account. The account pays 6% simple interest, and the account owner withdraws interest
The accompanying table, , shows a series of transactions in a savings account. The account pays 6% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. a. The account balance at the end of 2020 is $. (Round to the nearest dollar.) Data table
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