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Business, 28.02.2020 20:05 prithy

Assume that an individual puts $10,000 into a savings account that pays 3% interest, with interest being compounded monthly. The individual plans to withdraw the balance in 5 years to buy a car. If he does not make any further deposits over this period, how much will the individual be able to put towards his purchase?

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Assume that an individual puts $10,000 into a savings account that pays 3% interest, with interest b...
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