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Help solve federal debt and compound interest Previous Question Suppose the federal debt increases at an annual rate of 3% per year. Use the compound

Help solve federal debt and compound interest

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Previous Question Suppose the federal debt increases at an annual rate of 3% per year. Use the compound interest formula to determine the size of the debt in 8 years and in 42 years. Assume that the current size of the debt (the principal for the compound interest formula) is $9 trillion. The debt after 8 years is projected to be |trillion dollars. (Round to one decimal place as needed.) The debt after 42 years is projected to be |trillion dollars. (Round to one decimal place as needed.)

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