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
Related questions
Question
Doubling Time If money is invested at 11.6% interest,
compounded monthly, the
a. Use this information to complete the table below
for an investment of $1000 at 11.6% interest,
compounded monthly.
b. Create an exponential function, rounded to three
decimal places, that models the discrete function
defined by the table.
c. Because the interest is compounded monthly, this
model must be interpreted discretely. Use the
rounded model to find the value of the investment
in 2 months, in 4 years, and in 12*1/2
years.
Transcribed Image Text:Years
6.
12
18
24
Future Value
1000
($)
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