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You deposit $1,200 in your bank account. a. If the bank pays 5% simple interest, how much will you accumulate in your account after 8

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You deposit $1,200 in your bank account. a. If the bank pays 5% simple interest, how much will you accumulate in your account after 8 years? b. How much will you accumulate if the bank pays compound interest? Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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