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You deposit $2,200 in your bank account. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years?


You deposit $2,200 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)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)


Compound interest $


c.

How much of your earnings will be interest on interest? (Round your answer to 2 decimal places.)


Interest on interest $

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