Anthony and Michelle Constantino
Anthony and Michelle Constantino just got married and received $32,000 in cash gifts for their wedding.Use your financial calculator or the Money in Motion calculator (which is available in MyFinanceLab) to determine how much will they have on their twenty-fifth anniversary if they place half of this money in a fixed-rate investment earning 6
percent compounded annually. Would the future value be larger or smaller if the compounding period was 6 months? How much more or less would they have earned with this shorter compounding period?
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