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6 March, 11:32

Mia has $10,000 cash. She wants to place the funds into a savings account with a. 12% annual interest rate. The bank pays out daily. What is the final amount of the account after five years is she does not add or withdrawal any funds?

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  1. 6 March, 11:44
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    Step-by-step explanation:

    annual interest rate = 12%

    Annual interest = $10, 000 x 12/100%

    =$1200

    total cash = (interest + deposited money) : $10, 000 + $1200

    =$11200

    five years - $1200x5+$10, 000

    =$16, 000
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