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How much of the inheritance should she invest

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Reference no: EM131623362

Question: 1. If you were offered $700 today or $800 in two years, which would you accept if the $700 can be invested at 2.4% annual interest compounded monthly?

2. Bridgett Smith inherited some money and needs $45,000 in 15 years for her child's college fund. How much of the inheritance should she invest now at 2.8% compounded quarterly?

Reference no: EM131623362

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