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Alika [10]
3 years ago
14

A student has inherited $50,000. If it is placed in asavings account that earns 3% interest, how much isin the account in 30 yea

rs
Business
1 answer:
taurus [48]3 years ago
8 0

Answer:

$121,363

Explanation:

The amount in 30 years is known as the Future Value (FV) . We arrive at this figure by compounding the Present Value using the interest earned on the savings as follows :

PV =  $50,000

P/yr = 1

N = 30

PMT = $ 0

i = 3 %

FV = ?

Using a Financial calculator to enter the amounts as shown above, the FV can be determined as $121,363

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Explanation:

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Your father invested a lump sum 33 years ago at 4.25 percent interest. Today, he gave you the proceeds of that investment which
Nutka1998 [239]

Answer:

your father originally invest is $13035.72

Explanation:

given data

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solution

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$51480.79 =  present value × (1+0.0425)^{33}

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