A newborn child receives a $4,000 gift toward a college education from her grandparents. How much will the $4,000 be worth in 19 years if it is invested at 4.8% compounded quarterly? It will be worth $. (Round to the nearest cent.)
A newborn child receives a $4,000 gift toward a college education from her grandparents. How much will the $4,000 be worth in 19 years if it is invested at 4.8% compounded quarterly? It will be worth $. (Round to the nearest cent.)
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 10E
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