What is the future value of a 10-year investment ef $2000 at an APR of 5% compounded monthly? (Round your answers to the nearest cent.) $(175 Explain what your answer means. This means a S nvestment now will be worth $ in the future with the assumed constant APR.

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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What is the future value of a 10-year investment of $20D0 at an APR of 5% compounded monthly? (Round your answers to the nearest cent.)
$175
Explain what yur answer means.
This means as
itvestment now will be worth $
n the future with the assumed constant APR.
Transcribed Image Text:What is the future value of a 10-year investment of $20D0 at an APR of 5% compounded monthly? (Round your answers to the nearest cent.) $175 Explain what yur answer means. This means as itvestment now will be worth $ n the future with the assumed constant APR.
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