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You have an investment account that started with $1,000 10 years ago and which now has grown to $8,000. a. What annual rate of return

You have an investment account that started with $1,000 10 years ago and which now has grown to $8,000.

a. What annual rate of return have you earned (you have made no additional contributions to the account)?

b. If the investment account earns 16% per year from now on, what will the account's value be 10 years from now?

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