Problem determine the amount of money in a savings account
Problem: Determine the amount of money in a savings account at the end of five years, given an initial deposit of $5,000 and a 12 percent annual interest rate when interest is compounded (a) annually, (b) semiannually, and (c) quarterly.
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problem determine the amount of money in a savings account at the end of five years given an initial deposit of 5000
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