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You are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) ▬▬▬▬▬▬ a. b. C Investment Interest Amount Rate $ 15,400 15,400 15,400 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00

You are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) ▬▬▬▬▬▬ a. b. C Investment Interest Amount Rate $ 15,400 15,400 15,400 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00

Essentials Of Investments
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
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You are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Investment Amount $ 15,400 15,400 15,400 Interest Rate 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00
Transcribed Image Text:You are saving for a new car. You place $15,400 into an investment account today. How much will you have after four years if the account earns (a) 2%, (b) 4%, or (c) 6% compounded annually? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Investment Amount $ 15,400 15,400 15,400 Interest Rate 2% 4% 6% Compounding Annually Annually Annually Period Invested 4 years 4 years 4 years $ Future Value 15,400.00
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