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SOLVE USING ALL THE STEPS PLEASE, SHOW ALL THE FORMULAS Suppose that a sum of $1,000 is invested for two years at an annual rate

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SOLVE USING ALL THE STEPS PLEASE, SHOW ALL THE FORMULAS

Suppose that a sum of $1,000 is invested for two years at an annual rate of interest of 8%. What is the future value of this sum based on the following compounding frequencies? a) Annual compounding Semi-annual compounding Monthly compounding b) Explain why this is an important application in investment analysis. Provide at least three examples

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