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10. Julie pays Chan $1000. In return, he pays her $300 at the end of 1, 2, 3, and 4 years. Each time Julie receives

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10. Julie pays Chan $1000. In return, he pays her $300 at the end of 1, 2, 3, and 4 years. Each time Julie receives a payment, she reinvests at 3%. She closes the 3% account at the end of 4 years. a. Find the annual effective interest rate paid by Chan. b. Find the annual yield rate earned by Julie

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