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    Mia Kaminsky wants to attend Riverside Community College. She will need to have $25,000 six years from today. Mia is wondering what she will have to put back in the bank today so she will have $25,000 six years hence. Her bank pays 5 percent compounded semiannually. By using tables in the handbook, the amount Mia will have to deposit is: (Points : 1) $18,950 $33,226 $18,590 $33,622 None of these

    0  Views: 2242 Answers: 2 Posted: 11 years ago

    2 Answers

    You need to answer this by using tables in the handbook, we don't have the handbook.

    I would like to help you, but first help me if you will.


    PLEASE tell me, where is the bank that is paying 5 percent compounded semiannually?


    The best rate I have been able to find is only 1.114% and then only on deposits of  $10,000 or more, for a minimum deposit of TWO years!



     



     



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