Earl Miller, owner of a Papa Ginos franchise, wants to buy a new delivery truck in 6
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Earl Miller, owner of a Papa Gino’s franchise, wants to buy a new delivery truck in 6 years. He estimates the truck will cost $30,000. If Earl invests $20,000 now at 5% interest compounded semiannually, will Earl have enough to buy his delivery truck at the end of 6 years?
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Calculation of future amount at the end of the 6 th year Present amount 20000 Inte...View the full answer
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