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Very very urgent! You have . 1,500 to invest today at 7% interest compounded annually. Questions: (1) Find out how much you will have accumulated
Very very urgent!
You have . 1,500 to invest today at 7% interest compounded annually. Questions: (1) Find out how much you will have accumulated in the account at the end of (a) 3 years, (b) 6 years and (c) 9 years (ii) Use your findings in () to calculate the amount of interest earned in (a) the first 3 years (year 1 to 3); (b) the second 3 years (years 4 to 6) and (c) the third 3 years (year 7 to 9)Step by Step Solution
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