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6. In 1958 the average tuition for one year at Harvard was $1,800 in 2020 tultion was $49,653. What was the growth rate in tuition over this period of time? What was the annual growth rate? 2. At an inflation rate of 9%, the purchasing power of $1 would be cut in half in 8.04 years. How long to the nearest year would it take the purchasing power of $1 to be cut in half if the inflation rate were only 4967 8. Gomez Electronics needs to arrange financing for its expansion program. Bank A offers to lend Gomez the required funds on a loan where interest must be paid monthly, and the quoted rate is 8%. Bank B will charge 9%, with interest due at the end of the year. What is the difference in the effective annual rates charged by the two banks