FutureamountLengthRateRatedesiredof timecompoundedused7 years20 years2% semiannually4% annually1. $ 9,0002. $20,0003. Bill Blum needs $40,000 6 years from today to attend V.P.R. Tech. How mucia must Billput in the bank today (8% quarterly) to reach his goal?4. Bob Fry wants to buy his grandson a Ford Taurus in 4 years. The cost of a car will be$28,000. Assuming a bank rate of 4% compounded quarterly, how much must Bob put inthe bank today?

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Answered: Future amount Length Rate Rate desired…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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