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Tom Thompson expects to Invest $20,000 at 7% and, at the end of a certain perlod, recelve $67,598. How many years will it be before
Tom Thompson expects to Invest $20,000 at 7% and, at the end of a certain perlod, recelve $67,598. How many years will it be before Thompson recelves the payment? (PV of $1. FV of $1. PVA of $1, and FVA of $1 ) (Use approprlate factor(s) from the tables provlded. Round "Table Factor" to 4 decimal places.) Bill Padley expects to Invest $20,000 for 7 years, after which he wants to recelve $32,116.00. What rate of interest must Padley earn? (PV of $1, FV of $1, PVA of $1, and (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Mark Welsch deposits $6,600 In an account that earns interest at an annual rate of 12%, compounded quarterly. The $6,600 plus earned interest must remain in the account 4 years before it can be withdrawn. How much money will be In the account at the end of 4 years? (PV of $1, FV of $1. PVA of $1, and (Use approprlate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)
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