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What compounding did you think this account used

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Six years ago you placed $ 250 in a savings account which is now worth $ 1,040.28. When you put the funds into the account, you were told it would pay 24 percent interest. You expected to find the account worth $ 908.80. What compounding did you think this account used, and what did it actually use?

Reference no: EM13884549

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