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03-09-2008, 08:39 PM
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| Math question: earned interest? John deposits $1,000 at 8% in a passbook savings account. From each monthly paycheck $50 is deposited in this account. What is the earned interest for for the first year of this account? Explain how you got the answer, please. and an automatic 10 points for the first person to give me the Excel formula for it. oops sorry! the compounding period is monthly, so 12 times a year      |
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