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How much will be in the account three years

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Question - Steven just deposited 10000 in a bank account that has a 12 percent nominal interest rate, and the interest is compounded monthly. Steven also plans to contribute another 10000 to the account one year (12 months) from now and another $20,000 to the account two years from now. How much will be in the account three years (36 month) from now? Show details of solution.

Reference no: EM133027607

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