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Your grandmother just gave you $ 1 0 comma 0 0 0 . a . Calculate the future value of $ 1 0 comma 0
Your grandmother just gave you $ comma
aCalculate the future value of $ comma given that it will be invested for years at an annual interest rate of percent.
bRecalculate part a using a compounding period that is semiannual and bimonthly.
cNow let's look at what might happen if you can invest the money at a rate of percent rather than percent rate; recalculate parts a and b for an annual interest rate of percent.
dNow let's see what might happen if you invest the money for years rather than years; recalculate part a using a time horizon of yearsannual interest rate is still percent
eWith respect to the changes in the stated interest rate and length of time the money is invested in parts c and d what conclusions can you draw?
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