An amount of $4000 is invested at 13% interest, compounded daily a. Find the future value...
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An amount of $4000 is invested at 13% interest, compounded daily a. Find the future value in 10 years. b. Determine whether more or less money would have accrued if the money had been compounded quarterly a. The total amount is $ (Round to the nearest cent as needed.) An amount of $4000 is invested at 13% interest, compounded daily a. Find the future value in 10 years. b. Determine whether more or less money would have accrued if the money had been compounded quarterly a. The total amount is $ (Round to the nearest cent as needed.)
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We have to solve the given problem using the basic concept of future value and its formula In compound interesting a The final future value FV accumul... View the full answer
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Posted Date:
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