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How many years does it take for a deposit of $1000 to reach $3450 with an annual effective interest rate of 14.5%? Answer correct to

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How many years does it take for a deposit of $1000 to reach $3450 with an annual effective interest rate of 14.5%? Answer correct to 4 decimals. Redo Problem #1 above, compounding for each complete year, but using simple interest for any remaining fraction of a year at the end. (This is what is actually done in practice.) Answer correct to 4 decimals

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