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A woman deposits $14,000 at the end of each year for 7 years in an investment account with a guaranteed interest rate of 6% compounded
A woman deposits $14,000 at the end of each year for 7 years in an investment account with a guaranteed interest rate of 6% compounded annually. (a) Find the value in the account at the end of the 7 years. (b) Her sister works for an investment firm that pays 5% compounded annually. If the woman deposits money with this firm instead of the one in part (a), how much will she have in her account at the end of 7 years? (c) How much would she lose or gain over 7 years by investing in her sister's firm? of each (a) The woman's deposits form an period. Therefore, the formula because the deposits are made at the should be used
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