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What is the total future value of the two grants

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Problem 1: Janis gets a grant of $2,400 and deposits it in the bank at the end of 2017. At the end of 2018, she deposits another grant, which is double the amount of last year's cheque. Given that the interest rate is 4.5%, what is the total future value of these two grants at the end of 2019?

Reference no: EM132965258

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