How much will you have in the account after 35 years

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Reference no: EM132005482

Suppose you just deposited $50 today into Bank of America savings account that has an APR of 6%.

Based on simple interest annually, how much will you have in the account after 35 years assuming no withdraw?

What would be your answer if the same interest is annual compounding instead?

Reference no: EM132005482

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