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On marys 16th birthday her parents invest on her behalf an

On Mary's 16^th birthday, her parents invest on her behalf an amount of $5,000 into an account that pays interest at 3.8% compounded semi-annually.

(a) How much will the account be worth on Mary's 21^st birthday?

(b) Would Mary be better off if the account paid interest at 3.6% compounded quarterly? Explain.

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Mathematics: On marys 16th birthday her parents invest on her behalf an

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