Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Round your answers for the following questions to the nearest dollar. Megan is already looking ahead to graduation and a job, and she wants to buy a new car not long after her graduation. If after graduation she begins an investment program of $3,000 per year in an investment yielding 5 percent, what will be the value of the fund after three years? (Hint: Use Appendix A-3 or the Garman/Forgue companion website.) Round Future Value of Series of Equal Amounts in intermediate calculations to four decimal places. $ Megan's Aunt Karroll told her that she would give Megan $1,200 at the end of each year for the next three years to help with her college expenses. Assuming an annual interest rate of 5 percent, what is the present value of that stream of payments? (Hint: Use Appendix A-4 or the Garman/Forgue companion website.) Round Present Value of Series of Equal Amounts in intermediate calculations to four decimal places. $
Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Round your answers for the following questions to the nearest dollar.
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Megan is already looking ahead to graduation and a job, and she wants to buy a new car not long after her graduation. If after graduation she begins an investment program of $3,000 per year in an investment yielding 5 percent, what will be the value of the fund after three years? (Hint: Use Appendix A-3 or the Garman/Forgue companion website.) Round
Future Value of Series of Equal Amounts in intermediate calculations to four decimal places.$
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Megan's Aunt Karroll told her that she would give Megan $1,200 at the end of each year for the next three years to help with her college expenses. Assuming an annual interest rate of 5 percent, what is the present value of that stream of payments? (Hint: Use Appendix A-4 or the Garman/Forgue companion website.) Round Present Value of Series of Equal Amounts in intermediate calculations to four decimal places.
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