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How much interest will earn in the second year

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Reference no: EM132523288

Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit $1,600 in the bank and leave it there: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Question a. How much interest will you earn in the first year?

Question b. How much interest will you earn in the second year?

Question c. How much interest will you earn in the 10th year?

Reference no: EM132523288

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