$1150 (1+0.0644) 12 = 2,421,01 25. What is the value of $400 at interest rate of 5.87% after 10 years of Simple annual Compounding? (use 2 decimal places? |460 (1+0,0582) ¹0 = 707.60 Q6. Now work backwards. After 14 years at "interest rate of 6.39%, an Investment is worth $1190.09. what was the initial amount. assuming simple annual companding? (use 2 de cimal places)
$1150 (1+0.0644) 12 = 2,421,01 25. What is the value of $400 at interest rate of 5.87% after 10 years of Simple annual Compounding? (use 2 decimal places? |460 (1+0,0582) ¹0 = 707.60 Q6. Now work backwards. After 14 years at "interest rate of 6.39%, an Investment is worth $1190.09. what was the initial amount. assuming simple annual companding? (use 2 de cimal places)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 6 please
Transcribed Image Text:$1150 (1+0.0644) 12 = 2,421.01
25. What is the value of $400 at Interest
rate of 5.87%0 after 10 years of
Simple annual Compounding? (use 2 decimal
place!
10
400+ (1+0,₁0587) ¹0 = 202.60
Q6. Now work backwords. After 14 years
af Interest rate of 6.39%, an Investment
i's worth $1190.09, what was the initial amount.
Simple
de cimal places)
assuming annual compaumbing? (use 2
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