If you put $5,000 in a savings account that pays interest at the rate of 4%, compounded

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If you put $5,000 in a savings account that pays interest at the rate of 4%, compounded annually, how much will you have in 5 years? How much interest will you earn during the 5 years? If you put $5,000 each year into a savings account that pays interest at the rate of 4% a year, how much would you have after 5 years?

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Personal Financial Planning

ISBN: 9781439044476

12th Edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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