An investor makes an initial investment of $700,000. The investment returned a compounded 7% per year for
Question:
An investor makes an initial investment of $700,000. The investment returned a compounded 7% per year for three years. What was the total value of the investment at the end of the three years?
a. $857,530
b. $847,000
c. $757,530
d. $747,000
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Total ValueFuture value Initial Investment1rate100time This is read as Initial investment times ...View the full answer
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Related Book For
Managerial Accounting for the Hospitality Industry
ISBN: 978-1119386223
2nd edition
Authors: Lea R. Dopson, David K. Hayes
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