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Over a period of four and a half years an investment grows to $ 2 0 . 0 0 0 . ( a ) If

Over a period of four and a half years an investment grows to $20.000.(a) If money in this investment accumulated at a simple interest rate of 8%, what was the initial amount for the investment? (b) If money in this investment accumulated at a compound interest rate of 8% per year, what was the initial amount for the investment?

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