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1. Compound interest can be computed using the simple interest formula. True False 2. Timothy invested $1,500 in a company retirement account that pays 4% annual interest, compounded monthly. Find the value of his investment after 20 years. $1,833.87 $1,230.45 $2,730.45 $3,333.87 3. For retirement, Linda invested $4,000 in an account that pays 7% annual interest, compounded quarterly. Find the value of his investment after 10 years. $7,959.16 $3,959.16 $4,006.40 $8,006.40
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