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Justin Coffee has deposited $8,000 in a guaranteed investment account with a promised rate of 19.63% compounded semiannually. He plans to leave it there for
Justin Coffee has deposited $8,000 in a guaranteed investment account with a promised rate of 19.63% compounded semiannually. He plans to leave it there for 4 full years when he will make a down payment on a car after graduation.
How much of a down payment will he be able to make? How much of a down payment will Justin be able to make if compounded daily?
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
