Alpha Geek
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1. (a) Calculate the amount realized at the end of 7 years through annual deposits of $1000 at 10 percent compound interest.
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(b) What would the amount be if interest were compounded semiannually?
2. A young woman purchases a used car. After down payment and allowances, the amount to be paid is $8000. If money is available at 10 percent, what is the monthly payment to pay off the loan in 4 years? What would it be at 4 percent interest?
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