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Calculate the future value of $5,000 in : a) Four years at an interest rate of 7% per year. b)Eight years at an interest rate
Calculate the future value of $5,000 in :
a) Four years at an interest rate of 7% per year.
b)Eight years at an interest rate of 7% per year.
c. Four years at an interest rate of 14% per year. for the # question use this formula : ( FVn = C*(1+r)^n
d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)?
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