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September 22, 2014

Homework Help: maht

Posted by Anonymous on Tuesday, July 14, 2009 at 10:17pm.

Instead of spending his additional earnings each month, Michael chooses to open a savings account offering 3% interest, accrued monthly. Calculate the amount of money Michael will have in his savings account at the end of each of the following periods.

(a) three months
(b) six months
(c) one year

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