Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers 10% interest compounded semiannually. Four Rivers offers 8% interest compounded quarterly. Melvin has $10,000 to invest. He expects to withdraw the money at the end of 4 years.

Q: Miroslava has $100,000 to invest in a saving account. She receives a steady interest rate of 3.75%…

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A: Here we find compound money upto 7 year.

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Q: Taylor starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. She…

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