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What date will the investment be worth

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Question 1: If you invest 10,000 is invested on Feb 10th into an account that pays 13% compounded daily. What date will the investment be worth $10,500? Use banker's rule.

Question 2: A estate leaves $700,000 to three children ages 11, 17, 20. Each child is to receive the same amount at age twenty-five. How much each receive if fund is invested at 6.5% interest compounded quarterly.

Reference no: EM132433799

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