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You just received a generous birthday present from your favorite Uncle - - $ 2 0 0 ( partly a reward for the excellent grades
You just received a generous birthday present from your favorite Uncle $partly a reward for the excellent grades you've been getting at Pace You plan on investing this cash and expect to earn a return of per year, compounded annually.
a How much rounded to the nearest penny will your investment grow to in years?
b Your goal is to have $ available in years. What rate of return, compounded annually rounded to decimal places would you have to earn to achieve your goal?
c The rate of return in part b above involves too much risk for you. If the maximum risk you're willing to accept involves a rate of return of per year, compounded annually, how many years will it take to achieve your goal of $round your answer to two decimal places
d Suppose you could earn a rate of return of per year, compounded daily. How long would it take to achieve your goal in years now round your answer to two decimal places
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