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Given an annual interest rate = 9%, calculate the effective interest rate for the number of compounding sub-periods shown below. Then calculate the future worth
Given an annual interest rate = 9%, calculate the effective interest rate for the number of compounding sub-periods shown below. Then calculate the future worth of the given present lump sum, using the effective interest rate and the given number of years (5 points). Calculate F using iq, and n = the number of years. Recalculate F using i = r/m, and n = the total number of sub periods. Show your work. # Sub-Periods Per Year ia Present Sum # of years Future Worth 6 $250,000 15
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