Question
You deposit $10,000 in a bank and plan to keep it there for five years. The bank pays 8% annual interest compounded quarterly. Calculate the
You deposit $10,000 in a bank and plan to keep it there for five years. The bank pays 8% annual interest compounded quarterly. Calculate the future value at the end of five years.
Enter the excel formula you would use to solve this problem.
Do NOT put any spaces in your formula and use capital letters. Also, enter the RATE as a percentage.
Example: =PMT(3%,8,-500,0)
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Equity Valuation And Portfolio Management
Authors: Frank J. Fabozzi, Harry M. Markowitz
1st Edition
047092991X, 9780470929919
