You need $3,000 to buy a new stereo for your car in 3 years. What value you must have now if the compounded annual return is 10%
2. Your grandfather placed $5,000 in a trust fund for you. In 12 years what will be the worth of the savings If the estimated rate of return on the trust fund is 8%?

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The 1 2 compound interest formula A P 1 2 ht A Final Annual n number ... View the full answer