Question
P4-3 (similar to) Question Help Calculate the future value of $3,000 in a. 4 years at an interest rate of 5% per year. b. 8
P4-3 (similar to) Question Help Calculate the future value of $3,000 in
a. 4 years at an interest rate of 5% per year.
b. 8 years at an interest rate of 5% per year.
c. 4 years at an interest rate of 10% per year.
d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)?
a. Calculate the future value of $3,000 in 4 years at an interest rate of 5% per year.
The future value of $3,000 in 4 years at an interest rate of 5% per year is $ (Round to the nearest dollar.)
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
12th Global Edition
1292268859, 978-1292268859
