You will deposit $10,000 per year for five years at 9%. Then you will just let themoney sit there and continue to earn interest. If the interest rate in this secondstage is 10%, how much would you have six years after the second stage starts?(a) $142,656 (b) $95,755(c) $100,370 (d) $106,023
You will deposit $10,000 per year for five years at 9%. Then you will just let themoney sit there and continue to earn interest. If the interest rate in this secondstage is 10%, how much would you have six years after the second stage starts?(a) $142,656 (b) $95,755(c) $100,370 (d) $106,023
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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You will deposit $10,000 per year for five years at 9%. Then you will just let the
money sit there and continue to earn interest. If the interest rate in this second
stage is 10%, how much would you have six years after the second stage starts?
(a) $142,656 (b) $95,755
(c) $100,370 (d) $106,023
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