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SAVINGS ACCOUNT AT CITIZENS BANK EARNING 1.25% APY (2 pts. each) After Year...

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Accounting

SAVINGS ACCOUNT AT CITIZENS BANK EARNING 1.25% APY (2 pts. each)
After Year 1, how much interest have you earned?
The interest pays directly into the account, after Year 1, how much money is in the account?
Assuming that the interest rate stays at 1.25%, how much money will the account earn in interest in Year 2?(Don't forget that you are now earning interest on the interest paid in year 1.)
The interest pays directly into the account, after Year 2, how much money is in the account?
Assuming that the interest rate stays at 1.25%, how much money will the account earn in interest during Year 3?
How much money will you have in total for a down payment on a car after Year 3?
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