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Mathematics, 12.03.2020 00:33 lucylubugg
Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $51,000 from her grandmother's estate. She plans to use the money for the down payment on a home in ten years when she finishes her education. Right now the funds are in a savings account paying 4.0 percent APY. How much would Isabel have in ten years if instead she purchased a ten-year CD paying 6.0 percent? Round your answer to the nearest dollar. (Hint: Use Appendix A.1 or visit the Garman/Forgue companion website.) Round Future value of a Single Amount in intermediate calculations to four decimal places.
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Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $51,000...
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