Question: Compute the future value of $1,000 compounded annually for a. 10 years at 5 percent. b. 10 years at 10 percent. c. 20 years at

Compute the future value of $1,000 compounded annually for

a. 10 years at 5 percent.

b. 10 years at 10 percent.

c. 20 years at 5 percent.

d. Why is the interest earned in part (c) not twice the amount earned in part (a)?

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