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Calculate the future value of$3,000 in a.Four years at an interest rate of 5 % per year. b.Eight years at an interest rate of 5%

Calculate the future value of$3,000 in

a.Four years at an interest rate of 5 % per year.

b.Eight years at an interest rate of 5% per year.

c. Four years at an interest rate of 10% 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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