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Question: Calculate the present value of the compoundinterest loan. (Round your answers to the nearest cen...
calculate the presentvalue of the compound interest loan. (Round your answers to thenearest cent.) $29,000 after 8 years at 5% if the interest iscompounded in the following ways. (a) annually $ (b) quarterly
have just received$125,000 from the estate of a long-lost rich uncle. If you investall your inheritance in a tax-free bond fund earning 6.2%compounded quarterly, how long do you have to wait to become amillionaire? (Round your answer to two decimal places.)
Second PeoplesNational Bank offers a long-term certificate of deposit earning6.13% compounded monthly. Your broker locates a $20,000 zero-couponbond rated AA by Standard & Poor's for $8965 and maturing in 14years. Which investment will give the greater rate of return?
The Second PeoplesNational Bank offers a better rate of return. The zero-coupon bondoffers a better rate of return.
