You deposit $2000 in a risky investment that loses 3 % interest yeaçly. Unfortunately, the money is tiedup in the investment and cannot be withdraw, a) Write a formula that represents the amount of your money in the account at the end of each year. b) How much money do you have in your account after 6 years? Show your work.

You deposit $2000 in a risky investment that loses 3 % interest yeaçly. Unfortunately, the money is tiedup in the investment and cannot be withdraw, a) Write a formula that represents the amount of your money in the account at the end of each year. b) How much money do you have in your account after 6 years? Show your work.

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter8: Relationships Among Inflation, Interest Rates, And Exchange Rates

Section: Chapter Questions

Problem 2SBD

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