You put $1000 in the bank at a continuously compounded rate of 5% for one year. At
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You put $1000 in the bank at a continuously compounded rate of 5% for one year. At the end of this first year rates rise to 6%. You keep your money in the bank for another eighteen months. How much money do you now have in the bank including the accumulated, continuously compounded, interest?
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We need to find the future value using the below formula FV ...View the full answer
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Sagar Jain MP
I have experience teaching corporate finance at the Asper School of Business, University of Manitoba, Canada. I have the honor of featuring on Dean's list. I have passed the CFA Level II exam and in the process, I have gained significant knowledge in Finance.
I am proficient in corporate finance, stock market, derivatives market, options strategies, and using excel to solve financial problems.
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