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A principal of $70,000 is invested at 6% interest for four years. Find the difference in the future value if the interest is compounded quarterly compared to continuous compounding. Round your answer to two decimal places.
Force Majeure Clause
A contract term anticipating some catastrophic event usually exempting liability when such an event interferes with performance of the contract.
Catastrophic Event
An unexpected, large-scale disaster that causes significant -physical, economical or environmental damage or loss of life.
Condition Subsequent
A contract condition that, when it occurs, ends the party's obligation to perform under the contract.
Unilateral Release
A legal agreement where one party agrees to waive its rights or claims against another party without requiring any action or concession in return.
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