1. What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so...
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1. What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so that it will grow to $80,000 for their son's college fund in 18 years?
2. What lump sum should be deposited in an account that will earn 9%, compounded quarterly, to grow to $1.2 million for retirement in 25 years?
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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