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How much more or less money would you have to invest today to have $12,000 in 2 years at 3.50% compounded semi-annually instead of 3.54% compounded annually? Round to the nearest cent. Enter answer as positive if you have to invest more money today, and negative if you have to invest less money today.

How much more or less money would you have to invest today to have $12,000 in 2 years at 3.50% compounded semi-annually instead of 3.54% compounded annually? Round to the nearest cent. Enter answer as positive if you have to invest more money today, and negative if you have to invest less money today.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question 16 of 16 How much more or less money would you have to invest today to have $12,000 in 2 years at 3.50% compounded semi-annually instead of 3.54% compounded annually? Round to the nearest cent. Enter answer as positive if you have to invest more money today, and negative if you have to invest less money today.
Transcribed Image Text:Question 16 of 16 How much more or less money would you have to invest today to have $12,000 in 2 years at 3.50% compounded semi-annually instead of 3.54% compounded annually? Round to the nearest cent. Enter answer as positive if you have to invest more money today, and negative if you have to invest less money today.
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