Earl Miller, owner of a Papa Gino’s franchise, wants to buy a new delivery truck in 6 years. He estimates the truck will

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answerhappygod
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Earl Miller, owner of a Papa Gino’s franchise, wants to buy a new delivery truck in 6 years. He estimates the truck will

Post by answerhappygod »

Earl Miller, owner of a Papa Gino’s franchise, wants to buy a
new delivery truck in 6 years. He estimates the truck will cost
$30,000. If Earl invests $20,000 now at 5% interest compounded
semiannually. Find the compound value and present value.
How much more or less will Earl have for the truck at the end of
6 years? (Round your answers to the nearest
cent.)
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