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QUESTION
Calculate the future value of $2000 in a. Five years at an interest rate of 5% per year. Ten years at an interest rate of 5% per year. Five years at...
1. Calculate the future value of $2000 in
a. Five years at an interest rate of 5% per year.
b. Ten years at an interest rate of 5% per year.
c. Five years at an interest rate of 10% per year.
d. Why is the amount of interest earned in part (a) less than half the amount of interest earned
in part (b)?
