When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded semi-annually.

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When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded semi-annually. When he turns age 16, his parents will give him the money to buy a car. How much will Abram receive on his 16th birthday?

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Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

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When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded semi-annually.

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WE are finding the future value and we are applying the formula FVPV1in Whe...View the full answer

Financial Algebra Advanced Algebra With Financial Applications

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