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You have deposited $1500 into an account. In the first year, the account earns an annual interest rate of 8%, compounded annually. However, in the
You have deposited $1500 into an account. In the first year, the account earns an annual interest rate of 8%, compounded annually. However, in the second year, it pays an annual interest rate of 8%, compounded quarterly. What will your balance be at the end of the second year?
Question options: $1800.12 $1753.54 $1749.60 $1740.00
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