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Your bank pays 5% interest and interest is compounded annually. If you deposit $10,000 into the account on January 1 and continue to deposit $10,000
Your bank pays 5% interest and interest is compounded annually. If you deposit $10,000 into the account on January 1 and continue to deposit $10,000 every year at the beginning of each year for the next 5 years, how much will you have at the END of year 5? (Hint, there are six payments. Draw a timeline).
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