Question
Topic: Look for the FV of a lump sum or compounding or compound interest Question 1) $8,000 invested for 7 years at 8 percent compounded
Topic:
Look for the FV of a lump sum or compounding or compound interest
Question 1) $8,000 invested for 7 years at 8 percent compounded annually.
Problem Example for Students: $5,000 invested for 10 years at 10 percent compounded annually.
FVn = PV (1 + i)n
FV10 = $5000(1 + 0.10)10
FV10 = $5000 (2.594)
FV10 = $12,970
(Show your work)
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
