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suppose you receive the following end-of-year cash bonuses at work: end of year 2: $4,000 end of year 4: $6,000 end of year 6: $10,000
suppose you receive the following end-of-year cash bonuses at work: end of year 2: $4,000 end of year 4: $6,000 end of year 6: $10,000 end of year 8: $12,000 If you invest your bonuses and earn 8% on your investments, how much will you have at the end of year 12?
53,202
$51,936
$64,374
$58,521
$62,106
2.
You have $10,000 deposited in a savings account. The money has been earning an annual rate of 12% interest, compounded quarterly. What is your effective annual rate of interest?
12%
13.30%
12.55%
12.25%
11.65%
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