How much interest will you earn in the first year
Problem:
Compound Interest. Old Time Savings Bank pays 4 percent interest on its savings accounts. If you deposit $1,000 in the bank and leave it there, how much interest will you earn in the first year? The second year? The tenth year?
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If you deposit $1,000 in the bank and leave it there, how much interest will you earn in the first year?
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