Question: please help with a,b,c,d,e Thank ypu so much! (Compound interest with nonannual periods) a. Calculate the future sum of $1,000, given that it will be
(Compound interest with nonannual periods) a. Calculate the future sum of $1,000, given that it will be held in the bank for 8 years at an APR of 5 percent. b. Recalculate part a using compounding periods that are (1) semiannual and (2) bimonthly (every two months). c. Recalculate parts a and b for an APR of 10 percent. d. Recalculate part a using a time horizon of 16 years (the APR is still 5 percent). 0. With respect to the effect of changes in the stated interest rate and holding periods on future sums in parts c and d, what conclusions do you draw when you compare these figures with the answers found in parts a and b ? a. What is the future sum of $1,000 in a bank account for 8 years at an APR of 5 percent? (Round to the nearest cent.)
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