Question
Consider a $5,100 deposit earning 9 percent interest per year for 9 years. What is the future value? (Do not round intermediate calculations and round
| Consider a $5,100 deposit earning 9 percent interest per year for 9 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.) |
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Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
5th Edition
0134734203, 978-0134734200
