SOLUTION: Ms. White invests $2,000 in a saving plan. The savings account pays an annual interest rate of 5.75% on the amount she put in at the end of each year. How much will be in her savi

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Question 1137685: Ms. White invests $2,000 in a saving plan. The savings account pays an annual interest rate of 5.75% on the amount she put in at the end of each year. How much will be in her saving plan at the end of 10 years?
Answer by ikleyn(52855)   (Show Source): You can put this solution on YOUR website!
.
Assuming simple interest account,

2000 + 0.0575*2000*10 = 3150 dollars at the end of 10 years.



Assuming compound interest account

 = 3498.11 dollars at the end of 10 years.


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