How much money will be in account at end of that time period
Problem
For the next 8 years, you decide to place $2,104 in equal year-end deposits into a savings account earning 10.11 percent per year. How much money will be in the account at the end of that time period?
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Farmers Bank offers to lend you $50000 at a nominal rate of 5.0%, simple interest. What's the difference in the effective annual rates charged by the two banks?
For the next 8 years, you decide to place $2,104 in equal year-end deposits into a saving. How much money will be in the account at the end of that time period?
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