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What will be its amount when he reaches the age of 21

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Reference no: EM131980380

1) Fred received an inheritance of $45,000 a year when he was 12 years old. However, this was to be inverted and allowed to accumulate at 7% effective until he reaches the age of 21. What will be its amount when he reaches the age of 21?

2) Find the present value of $95,000 due in

a. 120 days

b. 5 years using 5% simple interest.

Reference no: EM131980380

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