Question
Consider a $1,600 deposit earning 7 percent interest per year for six years. What is the future value? (Do not round intermediate calculations and round
Consider a $1,600 deposit earning 7 percent interest per year for six years.
| What is the future value? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Future value | $ |
| How much total interest is earned on the original deposit? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Total interest earned | $ |
| How much is interest earned on interest? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Interest earned on interest | $ |
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Finance At 40 Financial Intelligence
Authors: MOIRA O'NEILL Moira O'Neill
1st Edition
1408101114, 978-1408101117
