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5. Suppose $1000 earns interest of $93.81 in one year. What is the nominal annual rate of interest compounded annually? 6. In how many years

5. Suppose $1000 earns interest of $93.81 in one year. What is the nominal annual rate of interest compounded annually? 6. In how many years will $300 grow to $5440 at 4% compounded quarterly

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