Question
Your rich auntie promised to give you money in 2 years if you graduate from Cal Poly by then. After taking enough FRL3000 lectures you
Your rich auntie promised to give you money in 2 years if you graduate from Cal Poly by then. After taking enough FRL3000 lectures you know that a wise thing to do would be to invest money and let it grow! And so your plan is to take the money that your auntie will give you and invest it for 5 years at an annual rate of 4.6%. So, how much money should you ask your rich auntie to give you if your goal is to have $10,000 in your bank account 7 years from today??
In this problem, you will be calculating..
In this problem, you will use
for the number of time periods in your formula (or in the financial calculator).
Your numerical answer to this problem is
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