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A company plans to deposit 8 thousand dollars in a fund, which will return 15% per year compounded daily. find the amount of 8 thousand

A company plans to deposit 8 thousand dollars in a fund, which will return 15% per year compounded daily. find the amount of 8 thousand dollars after 8 years, using both the (a) effective annual rate and the (b) effective interest rate per compounding period (CP). Provide the corresponding cash flow diagrams.

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