Question
Each of the following people below has invested the following amounts today and will keep the money invested for the next ten years . Determine
Each of the following people below has invested the following amounts today and will keep the money invested for the next ten years. Determine the amount the investment will accumulate over the ten (10) year period.
|
| Investment amount today | Interest rate | Compounding |
| A | $50,000 | 6.0% | Quarterly |
| B | 50,100 | 6.0% | Semiannually |
| C | 50,000 | 6.0% | Monthly |
| D | 50,500 | 6.0% | Annually |
25. $__________ Determine the accumulated investment amount for As investment for the 10 year period(round to nearest dollar)?
26. $___________ Determine the accumulated investment amount for B for the 10 year period(round to nearest dollar)?
27. $__________Of the four investments, the future value of the HIGHEST investment accumulation in 10 years (round to the nearest dollar) is:
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Intermediate Accounting Volume 2
Authors: Kin Lo, George Fisher
4th Edition
0135220491, 9780135220498
