Question: B E F 1 3 3 4 5 A D GHIJKLMNC Checked Compounding 2 Amount invested today 280,000 Annual rate of return 8.6% 5 Years

B E F 1 3 3 4 5 A D GHIJKLMNC Checked Compounding 2 Amount invested today 280,000 Annual rate of return 8.6% 5 Years until maturity You are thinking about retirement, and would like 7 to compute how much you will have some time in the future. Using the data from above, please compute future 10 amounts, and then answer these questions: 21 6 8 9 11 16 12 Please answer the following question: 13 #2 How much MORE will you have if compounding is 14 daily rather than monthly? 15 A Between 4,000 and 10,000 B Between 10,000 and 12,000 17 C Between 12,000 and 14,000 D Between 14,000 and 20,000 19 20 21 18

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