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1. Suppose you deposit $100 in a savings account today. In seven months, you expect that the value of your deposit will be $101. What is the constant monthly interest rate paid by this account? What will be the value of your deposit after 2 years?

2. Suppose you currently have $5,000. Your bank pays a monthly interest rate of 0.2% per month, compounding interest monthly. If you make no additional withdrawals or deposits, how much will be in your account in three years?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92796458

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