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1. Charleston Painless Surgery Center currently has $100,000 in excess cash. Meredith wants to invest the cash in a three-year bank certificate of deposit
1. Charleston Painless Surgery Center currently has $100,000 in excess cash. Meredith wants to invest the cash in a three-year bank certificate of deposit (CD) where, at maturity, the buyer receives the principal plus accumulated interest. a. What is the future value of the CD if it pays 2 percent interest compounded annually? 1 percent? 3 percent? (Hint: Use Excel's "FV" function.)
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Entrepreneurial Finance
Authors: J . chris leach, Ronald w. melicher
4th edition
538478152, 978-0538478151
