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Bill switched life insurance companies and was able to obtain the same coverage for a savings of $100 per year on premiums. He then invested

Bill switched life insurance companies and was able to obtain the same coverage for a savings of $100 per year on premiums. He then invested his savings at 5% per year. How much did he have after 7 years?

A. $814

B. $575

C. $1410

D. $410

E. $579

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