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You deposited $400 on January 1 and kept your money on deposit for one year. You made no deposits or withdrawals. If your bank pays 5% semiannual interest, what compound interest will you earn in one year?

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You deposited $400 on January 1 and kept your money on deposit for one year. You made no deposits or withdrawals. If your bank pays 5% semiannual interest, what compound interest will you earn in one year?






 
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