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If Peter has $5000,he wants to do an investment: If $1000 is invested at 5% for 18 months, using the simple interest formula and calculate

If Peter has $5000,he wants to do an investment:

  1. If $1000 is invested at 5% for 18 months, using the simple interest formula and calculate how much interest is due after 18 months?
  2. If Peter wants to invest $1000 into an account that offers a compound interest rate of 6% p.a. How much money will be in the account at the end of 3 years?

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