Suppose it were possible to invest $13000 in a savings account that pays an APR of 10%
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Question:
Suppose it were possible to invest $13000 in a savings account that pays an APR of 10% for 5 years.
a) What is the value of the savings account if the interest is compounded monthly?
b) What is the value of the savings account if the interest is compounded daily?
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