Joe expects to receive a gift of 1000 when he graduates, Finance Basics

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Joe expects to receive a gift of 1000 when he graduates

Joe expects to receive a gift of? $1,000 when he graduates one year from today. Joe can invest his gift at? 6% compounded annually and he would like to use the funds in four years to purchase an engagement ring for Mabel. How much will he have in four years to spend on a? ring?

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Finance Basics: Joe expects to receive a gift of 1000 when he graduates

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