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Shawn Bowker invested $17,500 in a money market account that will pay 8.25 percent compounded monthly. How much will the interest on interest be after

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Shawn Bowker invested $17,500 in a money market account that will pay 8.25 percent compounded monthly. How much will the interest on interest be after two years? $240,23 $2,887.5 $230 $2,497.63 $3,127,73 A lottery winner was offered a payment of $31,700 for 30 years. She could invest the cash flows at 4.5 percent. What is the minimum amount she should accept if she were to receive the amount as a lump -sum payment today instead? (Round to the nearest dollar.) $398.225 $491,005 none of these $516,358 $353,756

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