Nbspa student deposits 1000 in a savings account that pays, Business Economics

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Nbspa student deposits 1000 in a savings account that pays

A student deposits $1000 in a savings account that pays interest at the rate of 6% per year, compounded annually. If all of the money is allowed to accumulate, how much will the student have after 12 years? Compare this with the amount that would have accumulated if simple interest had been paid.

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Business Economics: Nbspa student deposits 1000 in a savings account that pays

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