Two different $1,000 investments are made. One is put into an account earning 8% per annum...
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Two different $1,000 investments are made. One is put into an account earning 8% per annum compounded annually. Another is put into an account earning 7.8% per annum compounded monthly. Compare the instantaneous rates of change 10 years after the initial deposit? Two different $1,000 investments are made. One is put into an account earning 8% per annum compounded annually. Another is put into an account earning 7.8% per annum compounded monthly. Compare the instantaneous rates of change 10 years after the initial deposit?
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Answer rating: 100% (QA)
Initial value 1000 T 10 YEARS So for 1st case future value at 8 compounding FV 10001008 ... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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