how much was in the account immediately after his 35th deposit if: a)the account earned annual compound interest of 3.7% b)the account earned annual compound interest of 4.7%

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Q: Question  1 :-

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Q: Please i need full details solution with explanation.

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Q: Please help me , I need full details solution with explanaton.

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Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.