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Suppose you deposit $2,500 in a savings account that pays interest at an annual rate of 6%. If no money is added or withdrawn from the account, answer the following questions,
a. How much will be in the account after 3 years?
b. How much will be in the account after 18 years?
c. How many years will it take for the account to contain $3,000?
d. How many years will it take for the account to contain $3,500?
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