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A corporation wants to invest $10 million per year for 5 years. If interest is earned at the rate of 14 percent per year, compute
A corporation wants to invest $10 million per year for 5 years. If interest is earned at the rate of 14 percent per year, compute the amount to which the deposits will grow if: (a) Deposits of $10 million are made at the end of each year with interest compounded annually. (b) Deposits of $5 million are made at the end of each 6-months period with interest compounded semiannually.
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