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You invest $1,700 at a 12% annual interest rate, stated as an APR. Interest is compounded monthly. How much will you have in 1.5 years?

You invest $1,700 at a 12% annual interest rate, stated as an APR. Interest is compounded monthly. How much will you have in 1.5 years? In 2 years?

Note: Do not round intermediate calculations. Round your answers to 2 decimal places.

1. 1.5 years:

2. 2 years:

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