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Find the final amount will have on deposit

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Reference no: EM132841321

A woman deposits $6000 at the end of each year for 10 years in an account paying 6% compounded annually.

Problem (a) Find the final amount she will have on deposit.

Problem (b) Her brother-in-law works in a bank that pays 5% compounded annually. If she deposits money in this bank instead of the other one, how much will she have in her account?

Problem (c) How much would she lose over 10 years by using her brother-in-law's bank?

Reference no: EM132841321

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