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7. Suppose that you are planning to take a five-year loan of $300,000 for your program. The interest rate of this loan is 5% and

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7. Suppose that you are planning to take a five-year loan of $300,000 for your program. The interest rate of this loan is 5% and its compounds annually. What would be the amount of interest? (1 point) 8. Assume that a $100,000 investment is held for four years in a savings account with 5% simple interest paid annually. What is the future value of such investment? (1 point)

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