Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 14E
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Question
Sam I Am invests $80,000 today at 10% per annum, compounded quarterly. What will the balance of Sam's investment be in 5 years? (Round your answer to the nearest penny.)
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