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Problem 7 $20,000 is invested in an investment fund at if= 8% per year and f= 5% per year. If the $20,000 is kept
Problem 7 $20,000 is invested in an investment fund at if= 8% per year and f= 5% per year. If the $20,000 is kept untouched for 5 years: a) How much money will be in the fund? b) What will be the purchasing power in terms of today's dollars? c) What is the real rate of return on the account?
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Numerical Methods For Engineers
Authors: Steven C. Chapra, Raymond P. Canale
5th Edition
978-0071244299, 0071244298
