Adam wishes to have $20,000 available in 18 years to purchase a new car for his son

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Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for his high school graduation. To accomplish this goal, how much should Adam invest now in a CD that pays 1.55% interest compounded quarterly?

If necessary, round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 05:56 AM

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Adam wishes to have $20,000 available in 18 years to purchase a new car for his son

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A Survey of Mathematics with Applications

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