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What is this inheritance worth

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Reference no: EM13673519

Question 1

Angela has just received an insurance settlement of $33,363. She wants to save this money until her daughter goes to college. If she can earn an average of 6.3 percent, compounded annually, how much will she have saved when her daughter enters college 14 years from now?

Question 5
Isaac only has $139 today but needs $2,087 to buy a new laptop. How long will he have to wait to buy the laptop if he earns 8.1 percent compounded annually on his savings?

Question 6
7 years from now, you will be inheriting $111,622. What is this inheritance worth to you today if you can earn 4 percent interest, compounded annually?

Reference no: EM13673519

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