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Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Transcribed Image Text:How much would you need to deposit in an account now in order to have $3,000.00 in the account in 14
years if the interest is:
(a) 8.19% simple interest?
(b) 8.19% compounded monthly?
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