Calculate the future value of $1,000 in 10 years assuming an interest rate of 12% (APR) compounded
Question:
Calculate the future value of $1,000 in 10 years assuming an interest rate of 12% (APR) compounded quarterly. Also, calculate the effective rate (EAR) on the investment.
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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Computation of Effective Annual Rat...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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