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Determine the amount of money in a savings account at the end of 10 years, given an initial deposit of $8,000 and an annual interest rate of 8 percent when interest is compounded: Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

Future Value

a: Annually

b: Semiannually

c: Quarterly

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92258145

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