Question
An investment pays 12% per year and you find it a good investment opportunity. So, you invest $400. (Assume compound interest) (a)How much will you
An investment pays 12% per year and you find it a good investment opportunity. So, you invest $400. (Assume compound interest)
(a)How much will you have in seven years?
(b)At the end of seven years, how much interest have you earned?
(c)How much of that interest results from compounding?
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
