Six annual regular payments of £7,250 are paid into a fund that pays interest of 3.4% per annum. What will be the value of this investment after 6 years, if payments are made at the end of each year? Your answer should be accurate to three decimal places. Note that a step-by-step method is not acceptable. Calculate the value of the investment after six years in part(e) i. above if the payments are made at the beginning of each year. Your answer should be accurate to two decimal places.
Six annual regular payments of £7,250 are paid into a fund that pays interest of 3.4% per annum. What will be the value of this investment after 6 years, if payments are made at the end of each year? Your answer should be accurate to three decimal places. Note that a step-by-step method is not acceptable. Calculate the value of the investment after six years in part(e) i. above if the payments are made at the beginning of each year. Your answer should be accurate to two decimal places.
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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Six annual regular payments of £7,250 are paid into a fund that pays
interest of 3.4% per annum. What will be the value of this investment
after 6 years, if payments are made at the end of each year? Your
answer should be accurate to three decimal places.
Note that a step-by-step method is not acceptable.
Calculate the value of the investment after six years in part(e) i. above
if the payments are made at the beginning of each year. Your answer
should be accurate to two decimal places.
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