Mary Lou received $5,000  from her grandparents for her college education 8 years prior to her enrolling in college. Mary Lou invested the money at 5.5%  compounded semiannually. How much money would she have in her savings account when she is ready to enroll in college?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Mary Lou received $5,000  from her grandparents for her college education 8 years prior to her enrolling in college. Mary Lou invested the money at 5.5%  compounded semiannually. How much money would she have in her savings account when she is ready to enroll in college?


 
 
 
 
 
 
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