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What is the balance in account at the end of twelve years

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Problem 1: Natalia initially deposited $1,000 in to a savings account for five years, paying 4% p.a. compounded annually. Starting 6 years from now, she deposited $500 each year into the account, for 7 years, and the interest rate rises to 7.5% p.a. compounded monthly. What is the balance in her account at the end of 12 years?

Reference no: EM132935424

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