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23-01-2024
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What is the future value of $5,000 received in 6 years if it is invested at 3% compounded annually for the next three years and 4%, compounded annually for the remaining three years?
a) $5,000 × (1 + 0.03)³
b) $5,000 × (1 + 0.04)³
c) $5,000 × (1 + 0.03)⁶
d) $5,000 × (1 + 0.04)⁶

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