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P4-3 (similar to) Question Help Calculate the future value of $3,000 in a. 4 years at an interest rate of 5% per year. b. 8

P4-3 (similar to) Question Help Calculate the future value of $3,000 in

a. 4 years at an interest rate of 5% per year.

b. 8 years at an interest rate of 5% per year.

c. 4 years at an interest rate of 10% 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 $3,000 in 4 years at an interest rate of 5% per year.

The future value of $3,000 in 4 years at an interest rate of 5% per year is $ (Round to the nearest dollar.)

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