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Calculate flip flops interest to be received

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Reference no: EM132465185

Flip Flop has just inherited $10,000 from a long lost relative and wants to invest it for the next 5 years.

Question a) Calculate Flip Flop's interest to be received and accumulated year end balances for each year assuming 4% annual simple interest.

Question b) Calculate Flip Flop's interest to be received and accumulated year end balances for each year assuming 4% compound interest.

Reference no: EM132465185

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