You deposit $15,000 in an account that pays 1.41% interest compounded quarterly. a. Find the future value

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You deposit

$15,000

in an account that pays

1.41%

interest compounded quarterly.a. Find the future value after one year.b. Use the future value formula for simple interest to determine the effective annual yield.

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: May 02, 2024 07:56 AM

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You deposit $15,000 in an account that pays 1.41% interest compounded quarterly. a. Find the future value

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To calculate the future value of the deposit after one year with quarterly compounding interest we c... View the full answer

Principles of Finance

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