Assume that you save 1 penny a day for 50 years,that you

Chapter , Problem 3-12

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Assume that you save 1 penny a day for 50 years,that you deposit it in the bank at the end of eachmonth, and that there are 30.5 days per month (yousave 30.5 cents each month). How much do you haveafter 50 years, if:(a)The bank does not pay any interest.(b)The bank pays 2% per month interest.

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