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You make a loan of $400 with a 6% annual compounded interest for a period of seven years. What is your $400 worth seven years

You make a loan of $400 with a 6% annual compounded interest for a period of seven years. What is your $400 worth seven years later? 


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After 7 years your 400 loan will be worth 60145 This is because of compound interest which means tha... blur-text-image

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