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Question: Calculate the present value of the compound interest loan. (Round your answers to the nearest cen...

calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $29,000 after 8 years at 5% if the interest is compounded in the following ways. (a) annually $ (b) quarterly

have just received $125,000 from the estate of a long-lost rich uncle. If you invest all your inheritance in a tax-free bond fund earning 6.2% compounded quarterly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.)

Second Peoples National Bank offers a long-term certificate of deposit earning 6.13% compounded monthly. Your broker locates a $20,000 zero-coupon bond rated AA by Standard & Poor's for $8965 and maturing in 14 years. Which investment will give the greater rate of return?

The Second Peoples National Bank offers a better rate of return. The zero-coupon bond offers a better rate of return.   

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