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What is the balance in the account

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Reference no: EM131360279

Suppose you invest $1,150in an account paying 3% interest per year.

a. What is the balance in the account after 2years? How much of this balance corresponds to"interest on interest"?

b. What is the balance in the account after 31 years? How much of this balance corresponds to "interest on interest"?

Reference no: EM131360279

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