Calculate the future value of $4000 in a. 3 years at an interest rate of 6% per
Question:
Calculate the future value of $4000 in
a. 3 years at an interest rate of 6% per year.
b. 6 years at an interest rate of 6% per year.
c. 5 years at an interest rate of 10% per year.
d. Why is the amount of interest earned in part
(a) less than half the amount of interest earned in part (b)?
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Future Value Calculations a 3 years 6 interest Use the future value FV formula FV P 1 rt FV 4000 1 0...View the full answer
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781292437156
5th Global Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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