Old time savings bank pays 3 interest on its savings, Financial Management

Old time savings bank pays 3 interest on its savings

Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $1,500 in the bank and leave it there: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a. How much interest will you earn in the first year?

b. How much interest will you earn in the second year?

c. How much interest will you earn in the 10th year?

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Financial Management: Old time savings bank pays 3 interest on its savings

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Financial Management: Old time savings bank pays 3 interest on its savings

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