emma60684 emma60684

16-11-2022
Mathematics

Answered

Suppose Sam places $7000 in an account that pays 14% 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.

Answer :

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