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9) Compute the compounding factor for 1 year if the compound rate of interest is 12%/year. 10) What is the future value of $12,000 in

9) Compute the compounding factor for 1 year if the compound rate of interest is 12%/year.

10) What is the future value of $12,000 in 10 years if the compound rate of interest is 8% per annum?

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