Sara would like to go on a vacation in 5 years and she expects her total costs to be $3000. If she invests $2500 into a savings account for those 5 years at 8% interest, compounding semi-annually, how much money will she have? Round your answer to the nearest cent. Show you work. Will she be able to go on vacation? Why or why not?
Sara would like to go on a vacation in 5 years and she expects her total costs to be $3000. If she invests $2500 into a savings account for those 5 years at 8% interest, compounding semi-annually, how much money will she have? Round your answer to the nearest cent. Show you work. Will she be able to go on vacation? Why or why not?
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter2: Graphical And Tabular Analysis
Section2.3: Solving Linear Equations
Problem 1TU: In the situation of the example, how long could you keep the car if your expense account allowed...
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Question
Sara would like to go on a vacation in 5 years and she expects her total costs to be $3000. If she invests $2500
into a savings account for those 5 years at 8% interest, compounding semi-annually, how much money will she
have? Round your answer to the nearest cent. Show you work.
Will she be able to go on vacation? Why or why not?
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