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Deposits that are received by or on the 15th of a month e...
by Melanie
Deposits that are received by or on the 15th of a month earn interest for the entire month. Deposits made after the 15th of a month do not earn any interest for that month. In a particular year, a company depposited $1200 on March 10th, $1500 on July 21st, $700 on September 8th, and $1000 on December 30th. If the account earns 9%, determine the amount in the account on January 1st of the following year.
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