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Suppose $8,000 is invested at 48% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 2 years? Exact accumulated

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Suppose $8,000 is invested at 48% compounded monthly (i.e., 12 times a year). (a) What will the accumulated amount be after 2 years? Exact accumulated amount 205.06 X dollars Accumulated amount, rounded to 2 decimal places = 20506.43 dollars (b) How much interest accrued during the 2 years? Interest, rounded to 2 decimal places : 12506.43 dollars

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