You deposited 2000 in a savings account that pays 7 percent, Financial Management

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You deposited 2000 in a savings account that pays 7 percent

You deposited $2,000 in a savings account that pays 7 percent interest, compounded annually, planning to use it to finish your last year in college. Two years later, you decide to go to the Rocky Mountains to become a ski instructor rather than continue in school, so you close out your account. How much money will you receive?

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Financial Management: You deposited 2000 in a savings account that pays 7 percent

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