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A company lends $1,600,000 for 1 year at 24%, compounded monthly to another company that manufactures tug boats: Find (a) the future value and (b)

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A company lends $1,600,000 for 1 year at 24%, compounded monthly to another company that manufactures tug boats: Find (a) the future value and (b) the interest. Click the icon to view the compound interest table. (a) Future value =$ (Simplify your answer.) (b) Interest =$ (Simplify your answer.)

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