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Can you show and explain simply how these answers were found 13. How much will a $450 investment, compounded semi-annually at 10% APR, yield in
Can you show and explain simply how these answers were found
13. How much will a $450 investment, compounded semi-annually at 10% APR, yield in 22 months, if there are no additional deposits or withdrawals? a. $546.98 b. $538.154 C. $520.93 $ d. $534.91 14. Mr. and Mrs. Junesty want to set up an investment account on the day of their daughter Emily's 12th birthday, so that she'll have money toward a down payment on a house when she is an adult. Suppose Mr. and Mrs. Junesty manage to invest $10,000 on the day of Emily's 12th birthday. If they invest at 6.2 % APR, compounded quarterly, how long will it take the investment account balance to double? a. 11 years, 2 months b. 11 years, 3 months C. 11 years, 4 months d. 11 years, 6 monthsStep by Step Solution
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