Question
Assume that you make a single, one-time investment of $2016 at time zero in an account that is expected to average 7.0% return per year
Assume that you make a single, one-time investment of $2016 at time zero in an account that is expected to average 7.0% return per year for the next 30 years. How much do you expect to have in the account at the end of the 30 years? Answer to 2 decimal places.
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To calculate the future value of an investment we can use the formula for compound interest Futur...
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
