Your wealthy uncle established a 1000 bank account for you, Financial Management

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Your wealthy uncle established a 1000 bank account for you

Your wealthy uncle established a $ 1,000 bank account for you when you were born. For the first 8 years of your life, the interest rate earned on the account was 6%. Since then, rates have been only 4%. Now you are 21 years old and ready to cash in. How much is in your account?

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Financial Management: Your wealthy uncle established a 1000 bank account for you

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