Question

Tara Cutler is newly married and is now preparing a surprise gift of a trip to Europe for her husband on their tenth anniversary. Tara plans to invest $5,000 per year until that anniversary and plans to make her first $5,000 investment on their first anniversary. If she earns an 8% rate on her investments, how much will she have saved for their trip if the interest is compounded in each of the following ways?
a. Annually
b. Quarterly
c. Monthly


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  • CreatedMarch 26, 2015
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