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v Your parents just gave you a gift of $4,000. You are investing this money for 7 years at 3 percent interest. How much money

v

  1. Your parents just gave you a gift of $4,000. You are investing this money for 7 years at 3 percent interest. How much money will you have at the end of the 7 years?

    $5,107.30

    $4,319.49

    $5,816.42

    $4,919.50

10 points

QUESTION 3

  1. Your friend claims to have invested $5,000 ten years ago and has seen that investment grow to $12,000 today. For this to be true, what rate of return did your friend have to earn?

    9.15 percent

    14.35 percent

    16.21 percent

    11.17 percent

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