P4-3 (similar to)

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Calculate the future value of

$ 8 comma 000$8,000

ina.

33

years at an interest rate of

8 %8%

per year.b.

66

years at an interest rate of

8 %8%

per year.c.

33

years at an interest rate of

16 %16%

per year.d. Why is the amount of interest earned in part

(a)

less than half the amount of interest earned in part

(b)?

a. Calculate the future value of

$ 8 comma 000$8,000

in

33

years at an interest rate of

8 %8%

per year.The future value of

$ 8 comma 000$8,000

in

33

years at an interest rate of

8 %8%

per year is

$nothing.

(Round to the nearest dollar.)