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37. You make a one-time $500 deposit into an account which pays 4% compounded monthly. If you don't touch the account for 7 years, what will be the final balance by the end of the term? a) $661.3 b) $709.0 c) $760.2 d) $815.0 e) $873.7 8. Cyclone Rentals borrowed $15,550 from a bank. If the interest rate is 6.75% and compounded daily, what is the effective annual rate (EAR)