Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have $50 000 now to invest. If you can earn 10% per annum on your deposit, and can invest for five years, what will

You have $50 000 now to invest. If you can earn 10% per annum on your deposit, and can invest for five years, what will be the future value of your deposit (to the nearest dollar) at the end of the investment period?

a.

$99 456

b.

$150 493

c.

$85 025

d.

$80 526

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bitcoin A Beginner S Guide

Authors: Benjamin Hart

1st Edition

0578389533, 978-0578389530

More Books

Students also viewed these Finance questions

Question

Walk away from the job

Answered: 1 week ago