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Question 3: Today, Courtney deposited $5,000 into a bank account that offers i% interest compounded yearly. If a total of $6,000 accumulates in her bank
Question 3: Today, Courtney deposited $5,000 into a bank account that offers i% interest compounded yearly. If a total of $6,000 accumulates in her bank account after 4 years, what is the value of i? Also draw a cash-flow diagram from Courtney's perspective. Question 4: Daniel is saving $2,000 a year for his retirement in his bank account, at an interest rate of 4% compounded yearly. His first deposit was made in the end of 2000, and his last deposit will be made in 2040. How much money will he have in the end of the year 2040
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