Assume that an investment of $9000 earns an APR of 6% compounded monthly for 16 months. How much money is in your account after 16 months? (Round your answer to the nearest cent.) $ How much of the money in your account after 16 months is interest? (Round your answer to the nearest cent.)
Assume that an investment of $9000 earns an APR of 6% compounded monthly for 16 months. How much money is in your account after 16 months? (Round your answer to the nearest cent.) $ How much of the money in your account after 16 months is interest? (Round your answer to the nearest cent.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Assume that an investment of $9000 earns an APR of 6% compounded monthly for 16 months. How much money is in your account after 16 months? (Round your answer to the nearest cent.) $ How much of the money in your account after 16 months is interest? (Round your answer to the nearest cent.)
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