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How much will be in the account on December

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Problem - A savings and loan association advertises a rate of T 1.2 %. Deposits made by 10th of the month earn dividends from the 15t of that month. Deposits made after the 10'" earn dividends from the ?rst of the following month. Dividends are credited on June 30 and December 31. A depositor had 2045 in an account on June 30, and deposited 1120 on September 7. How much will be in the account on December 31?

Reference no: EM132943903

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