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Posted on Jun 05, 2024

Anthony and Michelle Constantino just got married and received 23,000 in cash gifts for their wedding. How much will they have on theirtwenty-fifth anniversary if

Anthony and Michelle Constantino just got married and received

23,000 in cash gifts for their wedding. How much will they have on theirtwenty-fifth anniversary if they place half of this money in afixed-rate investment earning 6

6 percent compounded annually. Would the future value be larger or smaller if the compounding period was 6months? How much more or less would they have earned with this shorter compoundingperiod?

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