Question
If we place $8,592.00 in a savings account paying 7.5 percent interest compounded annually, how much will our account accrue to in 9.5 years? FV
If we place $8,592.00 in a savings account paying 7.5 percent interest compounded annually, how much will our account accrue to in 9.5 years? FV = PV (1 + i)n Present Value (PV) 8592 Interest Rate (i) 0.075 Number of years (n) 9.5 Answer- Refer to the Solved Example 2 on Page 49 of your text.
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Case Studies in Finance Managing for Corporate Value Creation
Authors: Robert F. Bruner, Kenneth Eades, Michael Schill
7th edition
007786171X, 77861711, 978-0077861711
