Let us assume that Batts will invest $30,200 each year for next 30 years. Assuming the interest rat will be 10.4% and that it will compound annually, what will be the investment's future value 30 yea from now? Assume that Batts will make the first investment next year, or one year from now. $9,246,256.35 $5,610,245.24 $5,359,591.01 $3,236,240.24
Let us assume that Batts will invest $30,200 each year for next 30 years. Assuming the interest rat will be 10.4% and that it will compound annually, what will be the investment's future value 30 yea from now? Assume that Batts will make the first investment next year, or one year from now. $9,246,256.35 $5,610,245.24 $5,359,591.01 $3,236,240.24
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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Transcribed Image Text:Let us assume that Batts will invest $30,200 each year for next 30 years. Assuming the interest rate
will be 10.4% and that it will compound annually, what will be the investment's future value 30 years
from now? Assume that Batts will make the first investment next year, or one year from now.
$9,246,256.35
$5,610,245.24
$5,359,591.01
$3,236,240.24
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