What is the future value in six years of $2,900 invested in an account with an annual
Question:
What is the future value in six years of $2,900 invested in an account with an annual percentage rate of 6.3 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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To find the FV of a lump sum with discrete compounding we use FV PV1 r t a b c d To find the future ...View the full answer
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Related Book For
Corporate Finance Core Principles And Applications
ISBN: 9781260571127
6th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
Question Posted:
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