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savings account

/in /by

Question

Determine the amount of money in a savings account at the end of 5 years, given an initial deposit of $3,500 and

an annual interest rate of 8 percent when interest is compounded: Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

 Future value
  a. Annually$   
  b. Semiannually$   
  c. Quarterly
 
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