#7 Suppose you invest $1000 in an account paying 8% per year. • What is the balance - 87988

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#7 Suppose you invest $1000 in an account paying 8% per year. • What is the balance in the account after 3 years? How much of this balance corresponds to “interest on interest?’ What is the balance in the account after 25 years? How much of this balance corresponds to interest?
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