Question: Sam purchased a security for $747.25 which matures in 5 years, at which time it will be redeemed for $1,000. What interest rate will

Sam purchased a security for $747.25 which matures in 5 years, at

Sam purchased a security for $747.25 which matures in 5 years, at which time it will be redeemed for $1,000. What interest rate will you earn on this security? Andy wants to open a snack shop three years from now, and plans to save $7,000 annually, beginning immediately. If he makes 3 deposits into his savings account that pays 5.2% interest annually, how much will he have three years from today?

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