Solve the following word problems1 a childs grandparents, Ask an Expert

Finance

Solve the following word problems.

1. A child's grandparents wish to purchase a bond that matures in 18 years to be used for her college education. The bond pays 4% interest compounded semiannually. How much should they pay so that the bond will be worth $85,000 at maturity?

2. The bones of a prehistoric man found in the desert of New Mexico contain approximately 5% of the original amount of carbon 14. If the half-life of carbon 14 is 5600 years, approximately how long ago did the man die?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92826115

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