Question
The four people below have the following investments. Invested Amount Interest Rate Compounding Jerry $ 11,100 12% Quarterly Elaine 14,100 6 Semiannually George 21,100 8
The four people below have the following investments.
| Invested Amount | Interest Rate | Compounding | |
|---|---|---|---|
| Jerry | $ 11,100 | 12% | Quarterly |
| Elaine | 14,100 | 6 | Semiannually |
| George | 21,100 | 8 | Annually |
| Kramer | 17,100 | 10 | Annually |
Required:
1-a. Calculate the future value at the end of five years. (FV of $1, PV of $1, FVA of $1, and PVA of $1) For all four people
1-b. Who has the greatest investment accumulation?
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An Introduction To Business Accounts
Authors: John Harrison, Ron Dawber
1st Edition
9780273019954
