Maria just inherited $10,000. Her bank has a savings account that pays
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MATHEMATICS A PRACT ODYSSEY -WEBASSIGN
- What interest rate would you need to get to double an investment of 200 in eight years?arrow_forwardKarl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what would his monthly deposits need to be if he invests in an account offering a 4.2% annual interest rate that compounds monthly?arrow_forwardWhat is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?arrow_forward
- Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount with 8.2 APR, compounding daily, in orderto reach his goal in 5 years?arrow_forwardDrew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to invest in an account now with 6.25 APR, compounding daily, in order to reach his goalin 4 years?arrow_forward
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