Question
The four people below have the following investments. Invested Amount Interest Rate Compounding Jerry $ 13,000 12% Quarterly Elaine 16,000 6 Semiannually George 23,000 8
The four people below have the following investments.
| Invested Amount | Interest Rate | Compounding | |
|---|---|---|---|
| Jerry | $ 13,000 | 12% | Quarterly |
| Elaine | 16,000 | 6 | Semiannually |
| George | 23,000 | 8 | Annually |
| Kramer | 19,000 | 10 | Annually |
Required:
1-a. Calculate the future value at the end of six years. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
1-b. Who has the greatest investment accumulation?
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
