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26 May, 18:06

You invest $2000 in an account that pays 2.7% interest compunded annually. If you make no payments into the account, what will the balance of the account be in 10 years?.

Suppose you establish the same account, but the interest compounds monthly. What would your balance be in 10 years?

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  1. 26 May, 18:21
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    Annually: 2,610.56

    Monthly: 2,619.13
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