Question
Assume you invest $25,000 into an account with an 11% APR. Interest is compounded monthly. How much will you have in 25 years? How much
Assume you invest $25,000 into an account with an 11% APR. Interest is compounded monthly. How much will you have in 25 years? How much more is this amount than if you compounded interest yearly?
Repeat Problem #10, but this time continuously compound the interest? How do the effective rates (APY) differ between yearly, monthly, and continuously compounding interest for this problem?
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The Commercial Aircraft Finance Handbook
Authors: Ronald Scheinberg
2nd Edition
1138558990, 978-1138558991
