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6. a) Find the amount to which $100 will grow at an interest rate of 16% compounded semiannually for 4 years (future value). b) Find

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6. a) Find the amount to which $100 will grow at an interest rate of 16% compounded semiannually for 4 years (future value). b) Find the present value of $300 due in the future if interest rate is 16% nominal rate quarterly compounded for 4 years. (10 points)

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