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You deposit $ 2 , 1 0 0 in your bank account. If the bank pays 5 % simple interest, how much will you accumulate

You deposit $

2, 100

in your bank account.

If the bank pays

5 %

simple interest, how much will you accumulate in your account after

8

years?

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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