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(a) If you deposit $24,000 in the bank today, what is its future value at the end of eighteen years if it is invested in

(a) If you deposit $24,000 in the bank today, what is its future value at the end of eighteen years if it is invested in an account paying 5.90% interest (annual compounding, or APR)?

(b) What is the present value of $24,000 to be received in eighteen years if the appropriate interest rate is 5.90% APR?

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