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Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much should she invest today given
Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much should she invest today given the following choices: (Do not round intermediate calculations and round your final answer to the nearest penny.) a. 4.2 percent compounded daily.
Amount required to be invested | $ |
b. 4.9 percent compounded monthly.
Amount required to be invested | $ |
c. 5.2 percent compounded quarterly.
Amount required to be invested | $ |
d. 5.4 percent compounded annually.
Amount required to be invested | $ |
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