a. If you deposit $1,000 today into an account earning an annual rate of return...
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Finance
a. If you deposit $1,000 today into an account earning an annual rate of return of 11%, in the third year how much interest would be earned?
b. How much of total is simple interest?
c. How much results from compounding of interest?
(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1,000 today into an account earning an annual rate of return of 11 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much results from compounding of interest? If you deposit $1,000 today into an account earning an annual rate of return of 11%, in the third year how much interest would be earned? $ (Round to the nearest cent.)
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