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Semiannual compounding implies that interest is compounded times per year. You have deposited $42,000 into an account that will earn an interest rate of 5%

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Semiannual compounding implies that interest is compounded times per year. You have deposited $42,000 into an account that will earn an interest rate of 5% compounded semiannually. How much will you have in this account at the end of seven years? $41,541,43 $38,574.19 $68,246.63 $59,344,90

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