An investor has $16,000 to invest and is willing to keep it invested for up to...
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An investor has $16,000 to invest and is willing to keep it invested for up to five years. You invest $16,000 in a savings account that offers 1.88% compounded monthly. You can remove the money any time you like, but plan to keep it in the investment for 5 years. Do not round intermediate calculations. What is the future value of the investment? Round your answer to the nearest cent. The future value of this investment is $ X G An investor has $16,000 to invest and is willing to keep it invested for up to five years. You invest $16,000 in a savings account that offers 1.88% compounded monthly. You can remove the money any time you like, but plan to keep it in the investment for 5 years. Do not round intermediate calculations. What is the future value of the investment? Round your answer to the nearest cent. The future value of this investment is $ X G
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To calculate the future value of the investment compounded monthly we can ... View the full answer
Related Book For
Microeconomics
ISBN: 9781464146978
1st Edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
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