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In 5 years, the family Carter will need $10,000.00 for a down payment on a family house. They have $6000.00 that they put in an
In 5 years, the family Carter will need $10,000.00 for a down payment on a family house. They have $6000.00 that they put in an investment earning 5% per year compound annually. Find: a- The future amount in 5 years b- The amount of compound interest earned. c- The excess of compound interest over simple interest in 5 years. d- The additional amount needed to achieve their family goal
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