Planning to add to savings account

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Reference no: EM131974181

a. You have a regular savings plan and have accumulated $8,000. How much will this be worth in 10 years if you can earn 2% on the money? You are not planning to add to this savings account. (Show all work.)

b. You have a savings plan into which you put $3,000 per year. How much will you accumulate in the account in 25 years if the interest rate is 10%? (Show all work.)

Reference no: EM131974181

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