Question: Complete each problem below and SHOW YOUR WORK. 1. You have $5,000 and access to an account that earns 12%, compounded annually. How much will

Complete each problem below and SHOW YOUR WORK.

1. You have $5,000 and access to an account that earns 12%, compounded annually. How much will you have in 7 years?

2. You expect to inherit $10,000 in 4 years and you have access to an account that earns 10%, compounded quarterly. What is the value today of your inheritance?

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