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Suppose that instead of the annually escalating interest rates you invested your $100 in an account that paid a constant 7% annual interest rate (the
Suppose that instead of the annually escalating interest rates you invested your $100 in an account that paid a constant 7% annual interest rate (the average of the escalating rates). Would you have more, less, or the same amount of money at the end of five years, compared to the $140.2 from the previous exercise? 1) More 2) The same 3)Less
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