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Suppose that on the day you were born your grandfather opened an account for you that pays 8% APR. On your 18th birthday there is $5,000 in this account. 1) How much money will be in the account if you leave the money there until your 25th birthday? 2) What if you left the money until your 65th birthday? How much money did your grandfather originally put into the account?

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Financial Management, Finance

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