How much will a $100 deposit made today be worth in 10 years if interest is compounded daily at an annual rate of 10%? 2. If you invest $10,000 and it grows at annual rate of 15% (compounded annually), how many months it will take to grow to $20,000? 3. If you invest $10,000 today and it grows at annual rate of 15% (compounded monthly), how many months it will take to grow to $20,000?
How much will a $100 deposit made today be worth in 10 years if interest is compounded daily at an annual rate of 10%? 2. If you invest $10,000 and it grows at annual rate of 15% (compounded annually), how many months it will take to grow to $20,000? 3. If you invest $10,000 today and it grows at annual rate of 15% (compounded monthly), how many months it will take to grow to $20,000?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 34P
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1. How much will a $100 deposit made today be worth in 10 years if interest is compounded daily at an annual rate of 10%?
2. If you invest $10,000 and it grows at annual rate of 15% (compounded annually), how many months it will take to grow to $20,000?
3. If you invest $10,000 today and it grows at annual rate of 15% (compounded monthly), how many months it will take to grow to $20,000?
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