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? A: The balance in her account would be $ when she is ready to enroll in college. (Round your answer to the nearest cent.)
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? A: The balance in her account would be $ when she is ready to enroll in college. (Round your answer to the nearest cent.)
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 57SE: Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what...
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Transcribed Image Text: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?
A: The balance in her account would be $.
when she is ready to enroll in college. (Round your
answer to the nearest cent.)
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