Business, 30.03.2021 04:00 rothermelm
2. Simple versus compound interest Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Ava deposited $1,300 in a savings account at her bank. Her account will earn an annual simple interest rate of 8.2%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 5 years
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