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Part 1
Anthony and Michelle Constantino just got married and received ​$35,000 in cash gifts for their wedding. How much will they have on their th anniversary if they place half of this money in a​ fixed-rate investment earning percent compounded​ annually? Would the future value be larger or smaller if the compounding period was 6​ months? How much more or less would they have earned with this shorter compounding​ period?