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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 100
Solve the following word problems by using Table 11-2.
Stuart Daniels estimates that he will need $25,000 to set up a small business in 7 years.
a. How much must Stuart invest now at 8% interest compounded quarterly to achieve his goal?
b. How much compound interest will he earn on the investment?
Stuart Daniels estimates that he will need $25,000 to set up a small business in 7 years.
a. How much must Stuart invest now at 8% interest compounded quarterly to achieve his goal?
b. How much compound interest will he earn on the investment?
Explanation
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Following information is given:
Compoun...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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