A friend tells you she has saved for 7 years and hasa
Chapter 4, Problem 4.22(choose chapter or problem)
A friend tells you she has saved for 7 years and hasa present sum of $10,000, which earned at the rateof 8% per year, compounded quarterly. (a) Determinethe equivalent amount she had to start with 7years ago. (b) Write the EFFECT function to findthe effective rate per year.
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