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6. You put $1000 in an CD bank account from your high school graduation gifts and then $2000 in the same account 4 years later
6. You put $1000 in an CD bank account from your high school graduation gifts and then $2000 in the same account 4 years later when you graduate from MSU. It earns 4% per year. Answer the following questions a. Five years after you have you first job how much will be in your account if? (Draw the cash flow diagram (4 pts), and solve the problem 2 ways, both using the appropriate formula (4 pts) and the appropriate reference tables (4 pts). b. If you had taken that same money and put it in a safe deposit box instead of in an account, how much less/more money would you have compared to the account? (2 pts)
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