Calculating interest earned-future value of savings account

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Calculating interest earned and future value of savings account. If you put $6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put $6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years? PLEASE SHOW WORK.

Reference no: EM131584297

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