Essay
Colin has inherited $6,000 from his grandmother.He would like to invest this money for two years and then use the proceeds from that investment to buy a new high-end gaming computer for $7,000.Will Colin have enough money to buy the computer if he deposits his money in an account paying 8 percent compounded semiannually?
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n = 2,m = 2,r = 8% FV = 6,000(...View Answer
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