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1) If $15,341 is invested in an account for 15 years , find the future value of the investment at the end of 15 years
1) If $15,341 is invested in an account for 15 years , find the future value of the investment at the end of 15 years if the interest rate is 6.5%.
a) 6.5 % simple interest per year
b) 6.5 % compounded annually
c) 6.5 % compounded monthly
d) 6.5 % compounded weekly
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