Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Question

Lauren would like to have $55,000 saved 10 years from now. If she finds an account that offers a 3.25% interest rate compunded quarterly, what would need to be the value of her initial investment (P.V.)?

$39,791.22
$53,536.27
$17,875.00
$72,575.00

 

 
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