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A) You are starting college this month, and your favorite aunt has agreed to give you $4,000 at the end of each of your four
A) You are starting college this month, and your favorite aunt has agreed to give you $4,000 at the end of each of your four years and you can save $8,000 at the end of each year for the first two years after you graduate. If all of these amounts are invested at 14%, how much will you have to start graduate school, six years from now? (Round the final answer to the nearest dollar.)
B)Which of the following equations is correct?
Annuity due value = Ordinary annuity value / i |
Annuity due value = Ordinary annuity value + (1+i) |
Annuity due value = Ordinary value (1+i) |
Annuity due value = Ordinary annuity value / (1+i) |
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