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Victor put $5,000 into a bank account 7 years ago. How much should he have in the account today if the account advertises a 5%

Victor put $5,000 into a bank account 7 years ago.

How much should he have in the account today if the account advertises a 5% APR compounded monthly?

If the rate on the account is changing today to 3% APR (compounded monthly), how much will he have 8 years from now?

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