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You deposit $2,200 in your bank account. a. If the bank pays 4% simple interest, how much will you accumulate in your account after 10
| You deposit $2,200 in your bank account. |
| a. | If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years? |
| Future value | $ |
| b. | How much will you accumulate if the bank pays compound interest? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| Future value | $ |
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Introduction to Finance Markets Investments and Financial Management
Authors: Melicher Ronald, Norton Edgar
15th edition
9781118800720, 1118492676, 1118800729, 978-1118492673
