Mathematics, 07.10.2020 17:01 KyiahDenise
A woman deposits $10,000 at the end of each year for 5 years in an account paying 3% interest compounded annually,
(a) Find the final amount she will have on deposit.
(b) Her brother-in-law works in a bank that pays 2% compounded annually. If she deposits money in this bank instead of the other one, how much will she have in her
account?
(c) How much would she lose over 5 years by using her brother-in-law's bank?
Answers: 2
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A woman deposits $10,000 at the end of each year for 5 years in an account paying 3% interest compou...
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