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Calculate what $900 would grow to at 6% per year compounded daily for 5 years. (Use the Table 12.2.) Note: Round your final answer to the nearest cent. Amount:??? TABLE 12.2 Interest on $1 deposit compounded—daily-365-day year Year 1% 2% 3% 4% 5% 6% 7% 8% 1 1.0101 1.0202 1.0305 1.0408 1.0513 1.0618 1.0725 1.0833 2 1.0202 1.0408 1.0618 1.0833 1.1052 1.1275 1.1503 1.1735 3 1.0305 1.0618 1.0942 1.1275 1.1618 1.1972 1.2337 1.2712 4 1.0408 1.0833 1.1275 1.1735 1.2214 1.2712 1.3231 1.3771 5 1.0513 1.1052 1.1618 1.2214 1.2840 1.3498 1.4190 1.4918 6 1.0618 1.1275 1.1972 1.2712 1.3498 1.4333 1.5219 1.6160 7 1.0725 1.1503 1.2337 1.3231 1.4190 1.5219 1.6322 1.7506 8 1.0833 1.1735 1.2712 1.3771 1.4918 1.6160 1.7506 1.8963 9 1.0942 1.1972 1.3099 1.4333 1.5683 1.7159 1.8775 2.0543 10 1.1052 1.2214 1.3498 1.4918 1.6487 1.8220 2.0136 2.2253

Calculate what $900 would grow to at 6% per year compounded daily for 5 years. (Use the Table 12.2.) Note: Round your final answer to the nearest cent. Amount:??? TABLE 12.2 Interest on $1 deposit compounded—daily-365-day year Year 1% 2% 3% 4% 5% 6% 7% 8% 1 1.0101 1.0202 1.0305 1.0408 1.0513 1.0618 1.0725 1.0833 2 1.0202 1.0408 1.0618 1.0833 1.1052 1.1275 1.1503 1.1735 3 1.0305 1.0618 1.0942 1.1275 1.1618 1.1972 1.2337 1.2712 4 1.0408 1.0833 1.1275 1.1735 1.2214 1.2712 1.3231 1.3771 5 1.0513 1.1052 1.1618 1.2214 1.2840 1.3498 1.4190 1.4918 6 1.0618 1.1275 1.1972 1.2712 1.3498 1.4333 1.5219 1.6160 7 1.0725 1.1503 1.2337 1.3231 1.4190 1.5219 1.6322 1.7506 8 1.0833 1.1735 1.2712 1.3771 1.4918 1.6160 1.7506 1.8963 9 1.0942 1.1972 1.3099 1.4333 1.5683 1.7159 1.8775 2.0543 10 1.1052 1.2214 1.3498 1.4918 1.6487 1.8220 2.0136 2.2253

Essentials Of Investments
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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1. Calculate what $900 would grow to at 6% per year compounded daily for 5 years. (Use the Table 12.2.)

Note: Round your final answer to the nearest cent.

Amount:???

TABLE 12.2

Interest on $1 deposit compounded—daily-365-day year

Year 1% 2% 3% 4% 5% 6% 7% 8%
1 1.0101 1.0202 1.0305 1.0408 1.0513 1.0618 1.0725 1.0833
2 1.0202 1.0408 1.0618 1.0833 1.1052 1.1275 1.1503 1.1735
3 1.0305 1.0618 1.0942 1.1275 1.1618 1.1972 1.2337 1.2712
4 1.0408 1.0833 1.1275 1.1735 1.2214 1.2712 1.3231 1.3771
5 1.0513 1.1052 1.1618 1.2214 1.2840 1.3498 1.4190 1.4918
6 1.0618 1.1275 1.1972 1.2712 1.3498 1.4333 1.5219 1.6160
7 1.0725 1.1503 1.2337 1.3231 1.4190 1.5219 1.6322 1.7506
8 1.0833 1.1735 1.2712 1.3771 1.4918 1.6160 1.7506 1.8963
9 1.0942 1.1972 1.3099 1.4333 1.5683 1.7159 1.8775 2.0543
10 1.1052 1.2214 1.3498 1.4918 1.6487 1.8220 2.0136 2.2253

 

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