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Problem 1: What will a deposit of $500 at 7% annual interest be worth if left in the bank for ten years? Problem 2: How much must you deposit at the end of each year in an account that pays an annual interest rate of 20 percent, if at the end of 5 years you want S10,000 in the account? Problem 3: If you invest $2,500 in a bank account that pays 6% interest compounded monthly, how much will you have in your account in one year?

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

AS ASKED BY YOU, BOTH METHODS DONE : EXCEL AND FORMULAS

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