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Please do not use an online calculator and solve those two questions with explanations and equations. (The answer are given by the way) You have

Please do not use an online calculator and solve those two questions with explanations and equations. (The answer are given by the way)

You have $950 today that you can invest at 8% for the next 2 years compounded annually. How much will you have in 2 years? Answer: 1,108.08 You have $4,350 that you can deposit for 4 years in the account that earns 15% simple interest. What is the future value of your deposit in 4 years? Answer: 6,960

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