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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 5
Solve this application problems. Round to the nearest cent.
PAYING FOR COLLEGE Tom Potter estimates that his daughter's college needs, beginning in 8 years, will be $3600 at the end of each quarter for 4 years. (a) Find the total ____________ (b) amount needed in 8 years assuming 8% compounded quarterly. (b) Will he have enough money available in 8 years if he invests $700 at the end of each quarter for the next 8 years at 8% compounded quarterly? ____________
PAYING FOR COLLEGE Tom Potter estimates that his daughter's college needs, beginning in 8 years, will be $3600 at the end of each quarter for 4 years. (a) Find the total ____________ (b) amount needed in 8 years assuming 8% compounded quarterly. (b) Will he have enough money available in 8 years if he invests $700 at the end of each quarter for the next 8 years at 8% compounded quarterly? ____________
Explanation
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a)Find the total amount needed in 
years...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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