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You make a one-time deposit of $1,000 into Account A which pays out 8% effective annual interest at the end of each year. Each year,
You make a one-time deposit of $1,000 into Account A which pays out 8% effective annual interest at the end of each year. Each year, you take the interest payout and deposit it into Account B earning an effective annual interest rate of 5%. Find the total amount in the two accounts combined, 20 years after the original $1,000 deposit. 7
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