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You deposit $1,300 in your bank account. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years?

You deposit $1,300 in your bank account. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years?

Future value?

b.What if the bank pays compound interest (annually)?

Compound interest?

c.How much of your earnings will be interest on interest?

Interest on interest?

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