1,Paul Spear invested $13,000 today in a fund that earns 10% compounded annually. Click here to...

1,Paul Spear invested $13,000 today in a fund that earns 10% compounded annually.
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To what amount will the investment grow in 4 years? To what amount would the investment grow in 4 years if the fund earns 10% annual interest compounded semiannually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

2, Thomas Bautista needs $29,000 in 4 years.
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What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Expert Solution

ekkarill92 answered 1 year ago

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