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How much is in the account at the end of the fourth year

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Reference no: EM131567078

Question: (a) An account has been dormant for many years earning interest at the constant rate of 4% per year. Now the amount is $100 000. How much was in the account 10 years ago?

(b) At the end of each year for 4 years you deposit $10 000 into an account earning interest at a rate of 6% per year. How much is in the account at the end of the fourth year?

Reference no: EM131567078

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