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What is the balance in the account after three years

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Question - Suppose you invest $ 1,050 n 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 27 years? How much of this balance corresponds to "interest on interest"?

Reference no: EM132455168

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