If $18,000 is invested at 2.5% for 20 years, find the future value if the interest is compounded the following ways. (Round your answers to the nearest cent.) (a) annually $ ________________(b) semiannually $ _______________(c) quarterly $ ________________(d) monthly $ ________________(e) daily (N = 360) $ ______________(f) every minute (N = 525,600) $ ______________(g) continuously $ ______________(h) simple (not compounded) $_______________
If $18,000 is invested at 2.5% for 20 years, find the future value if the interest is compounded the following ways. (Round your answers to the nearest cent.) (a) annually $ ________________(b) semiannually $ _______________(c) quarterly $ ________________(d) monthly $ ________________(e) daily (N = 360) $ ______________(f) every minute (N = 525,600) $ ______________(g) continuously $ ______________(h) simple (not compounded) $_______________
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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If $18,000 is invested at 2.5% for 20 years, find the
(a) annually
$ ________________
(b) semiannually
$ _______________
(c) quarterly
$ ________________
(d) monthly
$ ________________
(e) daily (N = 360)
$ ______________
(f) every minute (N = 525,600)
$ ______________
(g) continuously
$ ______________
(h) simple (not compounded)
$_______________
$ ________________
(b) semiannually
$ _______________
(c) quarterly
$ ________________
(d) monthly
$ ________________
(e) daily (N = 360)
$ ______________
(f) every minute (N = 525,600)
$ ______________
(g) continuously
$ ______________
(h) simple (not compounded)
$_______________
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