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13 of 13 Suppose Jenny borrows $2000 at an interest rate of 16% compounded each year. Assume that no payments are made on the loan.

13 of 13 Suppose Jenny borrows $2000 at an interest rate of 16% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any rounding. (a) Find the amount owed at the end of 1 year. $ (b) Find the amount owed at the end of 2 years. $

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