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6.4 Exercise 11

Avg difficulty 2.5

Find the present value of the accounts under the following conditions.

  1. AA = $250,000, invested at 6.75 interest, compounded monthly, for 30 years.
  2. AA = $500,000, invested at 7.1% interest, compounded quarterly, for 40 years.

OpenStax Contemporary Mathematics, 6.4 Compound Interest, exercise 11

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.