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What is the balance in the account

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Reference no: EM131360252

Suppose you invest $1,100in an account paying 7%interest per year.

a. What is the balance in the account after 3years? How much of this balance corresponds to"interest on interest"?

b. What is the balance in the account after 29 years? How much of this balance corresponds to "interest on interest?

Reference no: EM131360252

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