Question
1. You buy a CD (certificate of deposit) with $10,000 today. Interest rate is 12%, compounding monthly. How much you can get in two years?
1. You buy a CD (certificate of deposit) with $10,000 today. Interest rate is 12%, compounding monthly. How much you can get in two years? (keep the integer, 135.67 => 135);
2. You buy a CD with $10,000 today. Interest rate is 12%, compounding annually. How much you can get in two years? (keep the integer, 135.67 => 135)
3. You are saving money to buy a CD with $10,000 in 6 months. Interest rate is 12%, compounding monthly. You already have $6,000. How much more you still need for now? (keep the integer, 135.67 => 135)
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Financial Management EMEA Theory And Practice
Authors: Michael Ehrhardt, Roland Fox, Eugene Brigham
2nd Edition
1473760216, 9781473760219
