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QUESTION 1: State the amount accumulated by each of the following present investmens:

a) $4,000 in 10 years at 8% compounded annually.

b) $10,000 in 8 years at 12% compounded annually.

QUESTION 2: State the present worth of the following future payments:

a) $6,600 five years from now at 14% compounded annually.

b) $12,000 eight years from now at 7% compounded annually.

QUESTION 3:

How many years it take an investment to triple if the interest rate is 7% compounded annually?

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