Mathematics, 16.12.2021 01:00 nathanstern21

Richard and Colleen want to save for a boat. They estimate that they’ll need about $4,500 in 7 years. Their bank offers a 2% interest rate compounded semiannually. How much would they need to deposit now in order to have $4,500 in 7 years?

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Richard and Colleen want to save for a boat. They estimate that they’ll need about $4,500 in 7 years...

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