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Staci invested $950 five years ago. Her investment paid 7.2 percent interest compounded monthly. Stacis twin sister Shelli invested $900 at the same time. But Shellis investment earned 8 percent interest compounded quarterly. How much is each investment worth today?

Staci invested $950 five years ago. Her investment paid 7.2 percent interest compounded monthly. Staci’s twin sister Shelli invested $900 at the same time. But Shelli’s investment earned 8 percent interest compounded quarterly. How much is each investment worth today?

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Stacis investment FV 5 950 1 006 60 950 1 43179 1 360 20 Using a fina…View the full answer


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CFIN

CFIN

ISBN: 978-1305666870

5th edition

Authors: Scott Besley, Eugene Brigham

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Question Details
Chapter # 4
Section: Problems
Problem: 4
Posted Date: January 31, 2020 09:47:32
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