Calculate the future value of $7000 in a. Four years at an interest rate of 8% per
Question:
Calculate the future value of $7000 in
a. Four years at an interest rate of 8% per year.
b. Eight years at an interest rate of 8% per year.
c. Four years at an interest rate of 16% per year.
d. Why is the amount of interest earned in part
(a) less than half the amount of interest earned in part (b)?
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