Question
The interest rate for an investment under $5000 is 6.75%, compounded monthly. a) If $2500 is invested for 2 years, how much will the investment
The interest rate for an investment under $5000 is 6.75%, compounded monthly.
a) If $2500 is invested for 2 years, how much will the investment be worth when it
matures?
What is the difference between the formulaP=A (1+i)^-n and the formula used in question 6, part a)?
NOTE: I only need to know the difference in the formulas that are used
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Managerial Accounting Decision Making and Performance Management
Authors: Ray Proctor
4th edition
273764489, 978-0273764489
