Question 1 today is your 21st birthday and your bank, Ask an Expert

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Question 1: Today is your 21st birthday and your bank account balance is $25,000. Your account is earning 6.5% interest compounded quarterly. How much will be in the account on your 50th birthday?

Question 2: You want $20,000 in 5 years to take your spouse on a second honeymoon. Your investment account earns 7% compounded semiannually. How much money must you put in the investment account today? (round to the nearest $1)

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9793221

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