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Assume that today is February 1, 1996 and you will invest until February 1, 2003. (How much will you have on February 1, 2003?) Assume

Assume that today is February 1, 1996 and you will invest until February 1, 2003. (How much will you have on February 1, 2003?)

Assume that you invested $2000 on February 1, 1993, $2000 on February 1, 1994, $2000 on February 1, 1995, $2000 on February 1, 1996, $2000 on February 1, 1997, $2000 on February 1, 1998, $0 on February 1, 1999, $0 on February 1, 2000, $0 on February 1, 2001, $0 on February 1, 2002, and $0 on February 1, 2003. What was the value of those investments on February 1, 2003? Assume that any money that is invested will earn an interest rate of 7%, compounded annually.

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