Example: - A depositor puts $10,000 in a bank...
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Accounting
Example: - A depositor puts $10,000 in a bank account. It earns an effective annual interest of i during the first year and an effective annual of (i-05), the second year. After two years the account has a balance of $12,093.75. What would the account contain after 3 years if the annual effective rate is (i +.09) for each of the three years
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