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Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided

Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided that it would be reasonable to save $50,000 of the inheritance for wedding expenses in the event that both daughters should decide to get married in the same year. How much money will Beverly have in 4 years if she can invest the $50,000 and get a return of 8% compounded quarterly? 

 


18. Compute the present value (principal) and the compound interest earned for the following investment. 


Future



Present

Compound


Value

Interest Rate

Time

Value

Interest


$66,000

9% compounded annually

12 years

__________

_________

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