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T Bank offers to pay 2% per year, annually compounded intere

Paper help Economics T Bank offers to pay 2% per year, annually compounded intere

Economics

T Bank offers to pay 2% per year, annually compounded intere

T Bank offers to pay 2% per year, annually compounded interest on savings deposit. The Wells… Show more The BB&T Bank offers to pay 2% per year, annually compounded interest on savings deposit. The Wells Fargo Bank pays 2% per year, quarterly compounded interest. A man who has $10000 to put in a savings account will leave all money in the account for 2 years. Calculate the amount he would have at the end of 2 years from each bank. • Show less

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