Savings account with a current balance
Show numerically that a savings account with a current balance of $1,000 that earns interest at 9% annually is precisely sufficient to make the payments on a three year loan of $1,000 which carries equal annual payments at 9% interest.
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Illustrate numerically that a savings account with a current balance of $1,000 that earns interest at 9% annually is precisely sufficient to make the payments on a three year loan of $1,000 which carries equal annual payments at 9% interest.
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