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Margaret wants to buy a car when she graduates from Central University 6 years from now. She believes that she will need $29,500 to buy
Margaret wants to buy a car when she graduates from Central University 6 years from now. She believes that she will need $29,500 to buy the car. Click here to view the factor table. (a) Calculate how much money Margaret must put into her savings account today to have $29,500 in 6 years, assuming she can earn 12% compounded annually . (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to O decimal place, eg. 58,975.) Amount $ (b) Calculate how much money Margaret must put into her savings account today to have $29,500 in 6 years, assuming she can earn 12% compounded semiannually. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to decimal place, e.g. 58,975.) Amount $
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