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Compute the future value of the following invested amounts at the specified periods and interest rates

Compute the future value of the following invested amounts at the specified periods and interest rates.                           

 

 

Invested

 

Interest

Number of

Item

Amount

Rate

Periods

a.

$20,000

8%

10

b.

$30,000

4%

8

c.

$10,000

12%

15

 

 

 

55. Anthony would like to have $18,000 to buy a new car in three years. Currently, he has saved $15,000. If he puts $15,000 in an account that earns 6% interest, compounded annually, will he be able to buy the car in three years?

Jan 25 2020 View more View Less

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