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PLEASE SHOW DETAILED WORK. Suppose you had a relative deposit $10 at 5.5% interest 200 years ago. a) How much would the investment be worth

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PLEASE SHOW DETAILED WORK.

Suppose you had a relative deposit $10 at 5.5% interest 200 years ago. a) How much would the investment be worth today using simple interest? b) How much would the investment be worth today using compound interest? c) What is the effect of compounding? FV simple - PV (1+r x t) = FV compound = PV(1 + r)

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