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Assume an interest rate of 6.7% per year. How much would you lose over 7 years if you had to give up interest on the

Assume an interest rate of 6.7% per year. How much would you lose over 7 years if you had to give up interest on the interest-that is, if you received 46.9% instead of compounded interest?

A. 10.6%

B. 10.0%

C. 12.7%

D. 6.7%

What is the present value of receiving $999 a year for 21 years if you expect a rate of return of 4% a year?

A. $394

B. $902

C. $438

D. $638

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