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1) A $1,000 investment has grown to $2,476 in 8 years. What interest rate (compounded annually) has it earned? 2) Payments of $1,000 are to

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1) A $1,000 investment has grown to $2,476 in 8 years. What interest rate (compounded annually) has it earned? 2) Payments of $1,000 are to be made at the end of each year for the next 3 years. What is the present worth of the three payments if interest is 12% compounded monthly? What series of monthly payments would be equivalent to the $1,000 year payments

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