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For each of these situations, determine the savings amount. Use the time value of money tables in Exhibit 1-A, Exhibit 1-B, and Exhibit 1-C. a.
For each of these situations, determine the savings amount. Use the time value of money tables in Exhibit 1-A, Exhibit 1-B, and Exhibit 1-C. a. What would be the value of a savings account started with $725, earning 4 percent (compounded annually) after 9 years? (Round FV factor to 3 decimal places and final answer to the nearest whole dollar.) b. Brenda Young desires to have $10,000 eight years from now for her daughters college fund. If she will earn 4 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation. (Round PV factor to 3
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