Question
I am having problems with: if we place $7564 in a savings account paying 7.5 percent interest compounded annually, how much will our account accrue
I am having problems with:
if we place $7564 in a savings account paying 7.5 percent interest compounded annually, how much will our account accrue to in 8.5 yrs.
my answer via excel is
$13,986.96
but I have to write out the formula and that is where I am getting stuck.
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Options Futures and Other Derivatives
Authors: John C. Hull
10th edition
013447208X, 978-0134472089
