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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 87
Solve the following application problems.
FIXED RATE OR STOCKS Jesica Tate plans to contribute $2500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 4% per year versus an Asian stock fund that she believes will yield 10% per year. Find the future value after 12 years for (a) the certificate of deposit and (b) the stock fund. (c) Find the difference.
FIXED RATE OR STOCKS Jesica Tate plans to contribute $2500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 4% per year versus an Asian stock fund that she believes will yield 10% per year. Find the future value after 12 years for (a) the certificate of deposit and (b) the stock fund. (c) Find the difference.
Explanation
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a) Consider the annuity in the certifica...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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