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Please provide a detailed solution for the following QUESTION 2 ONLY!!!!!! 10) An investment of 20,000 $ is gaining interest at 8% a year for
Please provide a detailed solution for the following
QUESTION 2 ONLY!!!!!!
10) An investment of 20,000 $ is gaining interest at 8% a year for 10 years. An amount equals to twice the interest gained in a year is added to the account at the end of the given year. Calculate the value of the investment after 10 years. a) 84,960 $ b) 171,888 $ c) 160,391 $ d) 85,944 $ 2. What is the annual equivalent of a cash flow which starts at 500 $ a year for the first 10 years, then 1000 $ a year indefinitely at 10% annual interest? a) 1255.20 $ b) 1385.55 $ c) 692.75 $ d) 885 $ Step by Step Solution
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