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(8 pts) 6. An initial investment of $4,000 is deposited in an account that yields interest at the annual rate of 6.25%, compounded once per

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(8 pts) 6. An initial investment of $4,000 is deposited in an account that yields interest at the annual rate of 6.25%, compounded once per year (a) Determine the equation that gives the balance in the account after / years. (b) Determine the balance in the account after 5 years of its inception. (e) Determine how long it will take for the balance in the account to be $7,000

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