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  3. suppose that $8500 is placed in an account that pa

Suppose that $8500 is placed in an account that pays 16% interest compounded each year.Assume...

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Basic Math

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Suppose that $8500 is placed in an account that pays 16% interest compounded each year.Assume that no withdrawals are made from the account.Follow the instructions below. Do not do any rounding.(a) Find the amount in the account at the end of 1 year.$(b) Find the amount in the account at the end of 2 years.$

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