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1. 1. Suppose that you deposit $50 per week for the next five years. If your bank account pays annual interest of 3% compounded weekly,

1. 1. Suppose that you deposit $50 per week for the next five years. If your bank account pays annual interest of 3% compounded weekly, how much money would you have after five years?

2.Suppose that you have 40,000 today, and want to live off of it for two years. You can make 3% interest compounded yearly. What amount of money can you afford to take out each month?

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