Question
Is this right? You place $25,000 in a savings account paying an annual compound interest of 8 percent for 3 years and then move it
Is this right?
You place $25,000 in a savings account paying an annual compound interest of 8 percent for 3 years and then move it into a savings account that pays 10 percent interest compounded annually. What is the original balance worth at the end of six years? Note:format is $xx,xxx.xx
PV -64,427 PV -108,882 $108,882
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Financial Management Theory and Practice
Authors: Eugene F. Brigham, Michael C. Ehrhardt
16th edition
1337902608, 978-1337902601
