Problem 1.2 Assume that 1 year from now, you will deposit $1,000 into a savings account that pays 8%. What would be your balance 4 years from now be if the bank used quarterly compounding rather than annual compounding?
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Problem 1.2 Assume that 1 year from now, you will deposit $1,000 into a savings account that pays 8%. What would be your balance 4 years from now be if the bank used quarterly compounding rather than annual compounding?
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Answer:
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