Question
What is the FV (after one year) of investing $525 in a bank account that pays interest at 8% a year compounded annualy? how much
What is the FV (after one year) of investing $525 in a bank account that pays interest at 8% a year compounded annualy?
how much simple interest did you earn?
Now suppose you made the previous $10 deposit at 5.5% interest 200 years ago. How much would the investment be worth today?
how much is the simple interest earned?
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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
2nd Edition
0471111864, 978-0471111863
