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both 6 and 7 (8 pts) 6. A couple plans to deposit $12,000 in an investment fund at an effective interest rater, with interest compounded
both 6 and 7
(8 pts) 6. A couple plans to deposit $12,000 in an investment fund at an effective interest rater, with interest compounded continuously. If after 8 years the fund has grown to $75,000. Determine re as a percentage. (10 pts) 7. A debt of $65000 due in eight years from now at at an intrest rate of 5.2%, is instead to be paid off in four payments as follows (i) $8000 is paid now, (ii) $ 18000 paid in 3 years, (iii) S 25000 paid in four years, and (iv) final payment is made at the end of six years If the interest rate is compounded quarterly, what would be the final paymentStep by Step Solution
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