Use Table 13-2 to find the compound interest and the future value on an investment of $24,982

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Use Table 13-2 to find the compound interest and the future value on an investment of $24,982 if it is invested for 28 days at 2.25% compounded daily?
Compound Interest
Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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