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Question: At the beginning of every year since 2010, you have been putting $1000 into a savings account that earns 1% interest per year.

(a) Write an expression for the amount of money in the account at the beginning of this year (after you made your deposit). Write an expression for the amount of money in the account at the end of this year. Then, write the same expressions using summation notation.

(b) Evaluate the sum in part (a), to the nearest penny, by utilizing a formula (do not just add by hand). Show your work for full credit.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92782031

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