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5% interest rate 3. Assume you want to invest $1000 at the END of every year for the next 5 years. HINT Future Value a.
5% interest rate
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| 3. Assume you want to invest $1000 at the END of every year for the next 5 years. | HINT | |||
| Future Value | ||||
| a. What is the future value in year 5, if interest is compounded annually? | ||||
| b. What is the future value in year 5 if interest is compounded semiannually? | MUST use EFF for your interest rate | |||
| 4. Rework question 3, assuming payments are made at the BEGINNING of each period. | HINT | |||
| Future Value | ||||
| a. What is the future value in year 5, if interest is compounded annually? | ||||
| b. What is the future value in year 5 if interest is compounded semiannually? | MUST use EFF for your interest rate | |||
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Financial Strategies To Boost Businesses Step By Step Proven Business Strategies To Boost Businesses
Authors: John Baker
1st Edition
979-8856562124
