Question
What will a deposit of RM7,500 left in the bank be worth under the following conditions: a) Left for nine years at 7% simple interest?
What will a deposit of RM7,500 left in the bank be worth under the following conditions:
a) Left for nine years at 7% simple interest?
b) Left for six years at 6% compounded semiannually?
c) Left for five years at 8% compounded quarterly?
d) Left for seven years at 12% compounded monthly?
Step by Step Solution
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Step: 1
Lets calculate the future values for each scenario a Simple Interest textFuture Value P1 rt ...
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
