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You are hoping to be able to save $6,000 over the course of a year to invest for 8 years. Your options are to invest once a year (at the end of the year), every 6 months, every quarter or every month. What would be the future value of this savings plan under the following conditions: a. Invested $6,000 each year at an annual rate of 6%. b. Invested $3,000 every 6 months at an annual rate of 6% c. Invested $1,500 every quarter at an annual rate of 6% d. Invested $500 a month at an annual rate of 6% You are hoping to be able to save $6,000 over the course of a year to invest for 8 years. Your options are to invest once a year (at the end of the year), every 6 months, every quarter or every month. What would be the future value of this savings plan under the following conditions: a. Invested $6,000 each year at an annual rate of 6%. b. Invested $3,000 every 6 months at an annual rate of 6% c. Invested $1,500 every quarter at an annual rate of 6% d. Invested $500 a month at an annual rate of 6%
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Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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