Question
Problem 4-7 Compounding with Different Interest Rates (LG4-3) A deposit of $330 earns the following interest rates: a. 8 percent in the first year. b.
Problem 4-7 Compounding with Different Interest Rates (LG4-3)
A deposit of $330 earns the following interest rates:
a. 8 percent in the first year. b. 6 percent in the second year. c. 5 percent in the third year.
What would be the third year future value? (Round your answer to 2 decimal places.)
Future value $
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
5th Edition
0078034663, 978-0078034664
