Determine the amount of money in a savings account at the end of 10 years

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June 8th, 2024

Determine the amount of money in a savings account at the end of 10 years, given an initial deposit of $10,000 and an annual interest rate of 16 percent when interest is compounded: Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods.(Do not round intermediate calculations. Round your final answers to 2 decimal places.) Future value a. Annually$ b. Semiannually$ c. Quarterly$

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