Question
Find the amount of money (Future Value) in an account where $5,300 is deposited (Present Value) at an interest rate of 6% per year compounded
Find the amount of money (Future Value) in an account where $5,300 is deposited (Present Value) at an interest rate of 6% per year compounded daily (365 times per year) and the money is left in the account for 6 years.
The final amount is $ ?
Round your answer to 2 decimal places
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
