Question
Question 1 You deposit $28,000 today in a bank that promises to pay an annual interest of 10%? a.) What is future value of this
Question 1
You deposit $28,000 today in a bank that promises to pay an annual interest of 10%?
a.) What is future value of this sum at the end of 8 years?
b.) What is the FV of the sum if the interest rate is 5% for the first three years, 7% for the next three years and 9% thereafter?
c.) Explain the relationship between Interest rates and the future value of a sum.
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The Global Financial Crisis What Have We Learnt
Authors: Steven Kates
1st Edition
0857934228, 978-0857934222
