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Business, 08.10.2019 18:10 winterblanco

Oven looks at his account and notices that if the current monthly interest rate stays constant he is expected to have $45,000 in 6 years (i. e. once 6 years have elapsed) and $89,000 in 9 years. (15 points) (a) how much money does he have now (at time 0)? (5 points) (b) if his predictions are correct, except after 7 years, the nominal rate halves and then stays at that value, how much money will he have in 9 years? assume the interest rate is compounded monthly. (10 points)

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