Chloe received an inheritanceof $50,000. She would like to have $64,750 inthreeyears so that she can attend

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Chloe received an inheritanceof $50,000. She would like to have $64,750 inthreeyears so that she can attend graduate school. What interest rate does she need to earn?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Apr 04, 2024 04:19 AM

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Chloe received an inheritanceof $50,000. She would like to have $64,750 inthreeyears so that she can attend

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Expert Answer:

We can find the interest rate Chloe needs to earn using the future value formula This formula cons... View the full answer

Personal Finance Turning Money into Wealth

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