Lauren would like to have $55,000 saved 10 years from now. If she finds an account that offers a 3.25% interest rate compunded quarterly, what would need to be the value of her initial investment (P.V.)? $39,791.22 $53,536.27 $17,875.00 $72,575.00
Lauren would like to have $55,000 saved 10 years from now. If she finds an account that offers a 3.25% interest rate compunded quarterly, what would need to be the value of her initial investment (P.V.)? $39,791.22 $53,536.27 $17,875.00 $72,575.00
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Lauren would like to have $55,000 saved 10 years from now. If she finds an account that offers a 3.25% interest rate compunded quarterly, what would need to be the value of her initial investment (P.V.)?
$39,791.22
$53,536.27
$17,875.00
$72,575.00
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