Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.3: Solve Mixture Applications
Problem 3.66TI: has $8,000 to save for his daughter’s college education. He wants to divide it between one account...
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Question
Transcribed Image Text:Mary Lou received $14,000 from her grandparents for her college education 7 years prior to her enrolling in college. Mary Lou invested the money at 3.5% comp
semiannually. How much money will she have in her savings account when she is ready to enroll in college? (Simplify your answer completely. Round your answe
nearest cent.)
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