Calculate the future value of $2000 in a. Five years at an interest rate of 5% per
Question:
Calculate the future value of $2000 in
a. Five years at an interest rate of 5% per year.
b. Ten years at an interest rate of 5% per year.
c. Five years at an interest rate of 10% per year.
d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)?
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Future value Present value x 1 rate number of years Where Present value 2000 Rate 5 or 10 as give...View the full answer
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