Find the value, in two years time, of $4000 invested at 5% compounded annually. In the following
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Find the value, in two years time, of $4000 invested at 5% compounded annually. In the following two years, the interest rate is expected to rise to 8%. Find the final value of the investment at the end of the four-year period, and find the overall percentage increase. Give your answers correct to two decimal places.
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