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$ 1 2 , 0 0 0 invested at an APR of 3 . 9 % for 2 2 years. a ) What is balance

12, 000

invested at an APR of

3.9 %

for

22

years.

)

What is balance after

22

years with simple interest.

)

What is balance after

22

years with compound interest.

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