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Betty wants to have $50,000 in 20 years for BamBam's education. How much money will she need to invest today in an account paying 4.65%

  1. Betty wants to have $50,000 in 20 years for BamBam's education. How much money will she need to invest today in an account paying 4.65% compounded semi-annually? Round properly to 2 decimal places.
  2. What nominal rate of interest compounded monthly is needed for an investment of $30,000 to accumulate to $40,000 in 3 years and 7 months? (Round the rate to three decimals of a percent.

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