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Calculate the future value of $6,000 in a.Four years at an interest rate of 7% per year. b. Eight years at an interest rate of

Calculate the future value of $6,000 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.

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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