What is the future value in 11 years of $1,200 invested in an account with an APR
Question:
What is the future value in 11 years of $1,200 invested in an account with an APR of 7.8 percent:
a. Compounded annually?
b. Compounded semiannually?
c. Compounded monthly?
d. Compounded continuously?
e. Why does the future value increase as the compounding period shortens?
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Answer and thorough explanation a Compounded annually The future value is FV PV1rn where PV is the p...View the full answer
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Related Book For
Corporate Finance
ISBN: 9781260772388
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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