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GMG Studios plans to invest $54,000 at the end of each year for the next three years. There are three investment options available. Annual Rate
GMG Studios plans to invest $54,000 at the end of each year for the next three years. There are three investment options available.
Annual Rate | Interest Compounded | Period Invested | |
Option 1 | 7% | Annually | 3 years |
Option 2 | 9% | Annually | 3 years |
Option 3 | 11% | Annually | 3 years |
1. Determine the accumulated investment amount by the end of the third year for each of the options. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
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