Savings account that pays interest rate

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Reference no: EM131207305

If you put $4000 in savings account that pays interest rate of 4%, compounded annually, how much will you have in 5 years? How much interest will you earn during the 5 years? If you put $4000 each year into a savings account that pays interest at the rate of 4% a year, how much would you have after 5 years?

Reference no: EM131207305

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