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Kenneth Clark must decide how to invest $17,500 that he just inherited. What would be the future value of his investment after 5 years under
Kenneth Clark must decide how to invest $17,500 that he just inherited. What would be the future value of his investment after 5 years under each of the following three investment opportunities? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) a. 6.37 percent compounded quarterly.
Value of investment after 5 years | $ |
b. 6.11 percent compounded monthly.
Value of investment after 5 years | $ |
c. 6.00 percent compounded continuously.
Value of investment after 5 years | $ |
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