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18. Suppose that an investment of $1000 grows to $1500 in 2 years getting interest that is compounded monthly. (a) What is the interest rate?

18. Suppose that an investment of $1000 grows to $1500 in 2 years getting interest that is compounded monthly. (a) What is the interest rate? (b) How much interest (in dollars) does the investment earn during the first year

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