Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7. With annual compounding at 8 percent for 47 years, what is the approximate future value of a $20,000 initial investment? * O a) $52,000
7. With annual compounding at 8 percent for 47 years, what is the approximate future value of a $20,000 initial investment? * O a) $52,000 O b) $93,219 O c) $99,061 ) $ O d) $915,240 O e) None of the above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started