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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 17
Solve this application problems. Round to the nearest cent.
Abel Plumbing saves $12,000 at the end of every semiannual period in an account earning 6% compounded semiannually to replace several of its trucks in 5 years. Find the lump sum that could be deposited today that will grow to the same future value. ____________
Abel Plumbing saves $12,000 at the end of every semiannual period in an account earning 6% compounded semiannually to replace several of its trucks in 5 years. Find the lump sum that could be deposited today that will grow to the same future value. ____________
Explanation
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There are 
periods.
The interest rate p...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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