Sally deposited $200 into a fund which earns 5% per year. The interest can only be reinvested
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Question:
(a) Find the accumulated value of the investment after 5 years.
(b) Find the effective annual rate of interest of the investment.
Related Book For
Quantitative Investment Analysis
ISBN: 978-1119104223
3rd edition
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
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