Calculate the future value of $4000 in a. 3 years at an interest rate of 6% per

Question:

Calculate the future value of $4000 in

a. 3 years at an interest rate of 6% per year.

b. 6 years at an interest rate of 6% per year.

c. 5 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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Fundamentals Of Corporate Finance

ISBN: 9781292437156

5th Global Edition

Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford

Question Posted: Feb 27, 2024 03:07 AM

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Calculate the future value of $4000 in a. 3 years at an interest rate of 6% per

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Step by Step Answer:

Future Value Calculations a 3 years 6 interest Use the future value FV formula FV P 1 rt FV 4000 1 0...View the full answer

Fundamentals Of Corporate Finance

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