Question
The four people below have the following investments. Invested Amount Interest Rate Compounding Jerry $ 11,900 12% Quarterly Elaine 14,900 10 Semiannually George 21,900 6
The four people below have the following investments.
| Invested Amount | Interest Rate | Compounding | |
|---|---|---|---|
| Jerry | $ 11,900 | 12% | Quarterly |
| Elaine | 14,900 | 10 | Semiannually |
| George | 21,900 | 6 | Annually |
| Kramer | 17,900 | 8 | 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)
1-b. Who has the greatest investment accumulation?
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Information Technology Auditing
Authors: James A. Hall
4th edition
1133949886, 978-1305445154, 1305445155, 978-1133949886
