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7. What would be the compound annual interest rate you would need to double your investment of $ 1,000 in three years? (5 points) 8.

7. What would be the compound annual interest rate you would need to double your investment of $ 1,000 in three years? (5 points) 8. If your bank pays you 5% annual interest, compounded monthly, how much would you have in ten years if you invest $ 1,000 today? (5 points)

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