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If you invest a lump sum (one time contribution amount) of $10,000 and receive 7% compound interest that is compounded annually; how much would you

  1. If you invest a lump sum (one time contribution amount) of $10,000 and receive 7% compound interest that is compounded annually; how much would you have after 20 years?
  2. Taxable equivalent yield: If a municipal bond pays and interest rate of 5% and the investor is in a 37% tax bracket, then what is the taxable equivalent yield?

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