Newly married and prepares a surprise gift for her husband, Finance Basics

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Newly married and prepares a surprise gift for her husband

Question: Newly married and prepares a surprise gift for her husband. She Would like to offer it a trip to Europe on their 10th wedding anniversary. Tara plans to invest $5000 per year up to that anniversary. She plans to make her first $ 5,000 payment to the End of their first anniversary. If the nominal interest rate is 8%, how much will it have for its trip if This interest rate is capitalized

a) annually,

b) quarterly,

c) monthly?

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Finance Basics: Newly married and prepares a surprise gift for her husband

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