How much interest on interest will she have earned by the, Finance Basics

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How much interest on interest will she have earned by the

Elaine has just received an insurance settlement of $25,000. She wants to save this money until her daughter goes to college 4 years from now. If she can earn an average of 6.5 percent, compounded annually, how much interest on interest will she have earned by the time her daughter starts college? Assume she makes no further deposits or withdrawals.

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Finance Basics: How much interest on interest will she have earned by the

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Recent Questions Asked Finance Basics

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: How much interest on interest will she have earned by the

Reference No:- TGS0596190

Recent Questions Asked Finance Basics

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