Compounded Interest
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Suppose that $1000 are deposited in an account paying 8% annual interest for 10 years. If $2000 had been deposited instead of $1000, would there be twice the money in the account after 10 years? Explain.
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Problem: Suppose that $1000 are deposited in an account paying 8% annual interest for 10 years. If $2000 had been deposited instead of $1000, would there be twice the money in the account after ...
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