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Luke invested $170 at 3% simple interest for a period of 6 years. How much will his investment be worth after 6 years?

A grandmother deposited $3,000 in an account that pays 5% per year compounded annually when her granddaughter was born. What will the value of the account be when the granddaughter reaches her 14th birthday?

Jack and Tracy would like to have $10,000 for a down payment on a new condo. A savings account at their local credit union will pay 2% per year compounded monthly. How much should they deposit now in this account to have the down payment in 2 years?

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