You deposit $200 in an account earning 7% compound interest for 6 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. (1 year = 365 days, including leap years)
You deposit $200 in an account earning 7% compound interest for 6 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. (1 year = 365 days, including leap years)
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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i need the bottom portion of this.
Transcribed Image Text:✓
D
Daily:
Frequency PV
Annually:
Quarterly:
365
$
Semiannually: 200
Monthly:
Daily:
200
200
$
200
200
Submit Question
J
✓
J
365
PMT
FA
200
200
$
200
200
200
J
X
X
$
X
$
$
$
2190
$
FV
821,044, X
X 282.38 x 302.21 X
$
$
339
7
Interest
Earned
S
%
$
%
300.15 X
282.54 X 303.29 X
282.56 X 304.02
X
X 282.59 X 304.38 X
♫
Transcribed Image Text:↓
Ivext question
Frequency
You deposit $200 in an account earning 7% compound interest for 6 years. Find the
future value and the interest earned for each of the following compounding
frequencies. Round all answers to two decimal places if necessary.
(1 year = 365 days, including leap years)
Annually:
Semiannually:
Quarterly:
ideas.number.ca/assess2/?cid=1423&aid=44998#/skip/1
Monthly:
Daily:
Annually:
P/Y
1
2
4
12
365
Frequency PV
Get a similar question You can retry this question below
200
✓
✓
✓
✓
C/Y
1
2
4
12
365
PMT
200
✓
✓
N
X
6
12
24
72
✓ 2190
FV
✓
✓ 7
821,044, X
339
I/Y
$
7
7
7
7
%
%
%
%
%
Interest
Earned
300.15
X
J
J
J
D
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