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Need ALL parts please! (A-C) Ren Levin wishes to determine the future value at the end of 6 years of a $16,000 deposit made Comparing
Need ALL parts please! (A-C)
Ren Levin wishes to determine the future value at the end of 6 years of a $16,000 deposit made Comparing compounding periods Personal Finance Problem today into an account paying a nominal annual rate of 11% a. Find the future value of Ren's deposit, assuming that interest is compounded (1) annually, (2) quarterly, (3) monthly, and (4) continously. b. Compare your findings in part a, and use them to demonstrate the relationship between compounding frequency and future value. c. What is the maximum future value obtainable given the $16,000 deposit, the 6-year time period, and the 11% nominal annual rte? Use your findings in part a to explain a 1) For annual compounding, the future value of Ren's deposit is $ Round to the nearest centStep by Step Solution
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