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Trish Nealon, who recently sold her Porsche, placed $20,000 in a savings account paying annual compound interest of 7%. a. Calculate the amount of money
Trish Nealon, who recently sold her Porsche, placed $20,000 in a savings account paying annual compound interest of 7%. a. Calculate the amount of money that will have accrued if she leaves the money in the bank for 1, 5, and 15 years. b. If she moves her money into an account that pays 9% or one that pays 11%, rework part a using these new interest rates.
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