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Financial Technology Center - School of Business - Central Connecticut State University |
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You deposited $1,000 in a savings account that
pays 8 percent interest, compounded Semiannually, planning to use it
to finish your last year in college. Eighteen months later, you
decide to go to the Rocky Mountains to become a ski instructor
rather than continue in school, so you close out your account. How
much money will you receive?
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