Question

What is the future value in six years of $ 1,000 invested in an account with a stated annual interest rate of 9 percent?
a. Compounded annually?
b. Compounded semiannually?
c. Compounded monthly?
d. Compounded continuously?
e. Why does the future value increase as the compounding period shortens?



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  • CreatedAugust 28, 2014
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