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Business, 12.06.2021 17:00 jflakes5108

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. Heather deposited $1,700 at her local credit union in a savings account at the rate of 9.8% paid as simple interest. She will earn interest once a year for the next thirteen years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Heather in thirteen years?

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