Question
Karen made an investment of $2500 two years ago to go on a trip. She invested the money at 7.2% per annum compounded semi-annually. Her
Karen made an investment of $2500 two years ago to go on a trip. She invested the money at 7.2% per annum compounded semi-annually. Her investment will mature in three years. Dwayne would also like to go on the trip. However, he hasnt started saving yet. How much must he invest today at 9.6% per annum compounded monthly to have the same amount as Karen will have three years from now?
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American Public School Finance
Authors: William Owings, Leslie Kaplan
2nd Edition
1111838046, 978-1111838041
