How much would $1, growing at 13.7% per year, be worth after 75 years? Select one: a. $18,248.03 b. $15,206.70 c. $18,704.24 d. $13,533.96 e. $15,358.76

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
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How much would $1, growing at 13.7% per year, be worth after 75 years?
Select one:
a.
$18,248.03
b.
$15,206.70
c.
$18,704.24
d.
$13,533.96
e.
$15,358.76
 
Expert Solution
Step 1

Present value (PV) = $1

Interest rate (r) = 13.7%

Period (n) = 75

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