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1. Calculate the future value of $2000 in a. Five years at an interest rate of 5% per year. b. Ten years at an interest

1. Calculate the future value of $2000 in

a. Five years at an interest rate of 5% per year.

b. Ten years at an interest rate of 5% per year.

c. Five years at an interest rate of 10% 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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