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What is the balance in the account after ?3 years

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Reference no: EM132668087

Suppose you invest $850 in an account paying 7% interest per year.

a. What is the balance in the account after ?3 years? How much of this balance corresponds to? "interest on? interest"?

b. What is the balance in the account after ?34 years? How much of this balance corresponds to? "interest on? interest"?

Reference no: EM132668087

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