1. What is the value of the following investments in the future? (show your work):+ a)...
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1. What is the value of the following investments in the future? (show your work):+ a) $6,000 invested for 5 years at 16% compounded quarterly?+ b) $9,000 invested for 7 years at 8% compounded semi-annually?+ c) $875 invested for 1 year at 12% compounded monthly?+ d) $22,000 invested for 5 years at 5% compounded annually?+ e) How long will it take to double your investment if the interest rate is 3%? 1. What is the value of the following investments in the future? (show your work):+ a) $6,000 invested for 5 years at 16% compounded quarterly?+ b) $9,000 invested for 7 years at 8% compounded semi-annually?+ c) $875 invested for 1 year at 12% compounded monthly?+ d) $22,000 invested for 5 years at 5% compounded annually?+ e) How long will it take to double your investment if the interest rate is 3%?
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Heres how to calculate the future value FV of each investment and the time to double your money a 60... View the full answer
Related Book For
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
Posted Date:
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