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You just opened a savings account in a bank with an initial deposit of $ 4 0 . In the next five years, you will

You just opened a savings account in a bank with an initial deposit of $40. In the next five
years, you will make the following deposits to and withdrawals from your account, with the
first transaction taking place one year from today:
Year 1 $100
Year 2($100)(i.e., withdrawal)
Year 3 $200
Year 4 $200
Year 5: $500
The savings account pays 3 percent p.a. Assuming no additional deposits or withdrawals will
be made after Year 5, how much money will you have in your savings account at the end of
the tenth year?
Answer: _____________

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