Question
Suppose you have $20,000 to invest and you believe that you can earn 12 per year over the next 5 years. i. How much would
Suppose you have $20,000 to invest and you believe that you can earn 12 per year over the next 5 years.
i. How much would you have at the end of 5 years using compound interest?
ii. How much would you have using simple interest?
iii. Why these two figures are not the same?
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I the amount at the end of 5 years using compound interest P1r n 200001012 5 2000017623 35...
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Personal Finance An Integrated Planning Approach
Authors: Ralph R Frasca
8th edition
136063039, 978-0136063032
