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Your bank is continuously

Your bank is continuously

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
Problem 1PS
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Disney+ Instagram BuzzFeed Quizzes Pinterest O truity hrblock >> 2/ 2 100% 日の 4. Your bank is offering a savings account with a nominal rate of 1.5% compounded continuously. If you deposited $1,000 at the start of this school year, how much will your balance be in 4 years? Answer as a complete coherent thought!!! honlr with 4. 5% interest for 5 years, then
Transcribed Image Text:Disney+ Instagram BuzzFeed Quizzes Pinterest O truity hrblock >> 2/ 2 100% 日の 4. Your bank is offering a savings account with a nominal rate of 1.5% compounded continuously. If you deposited $1,000 at the start of this school year, how much will your balance be in 4 years? Answer as a complete coherent thought!!! honlr with 4. 5% interest for 5 years, then
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Step 1

Introduction:

The value of savings at the end of a particular period is referred to as future value. The investment which is made for the particular period i.e. for a few months or years would fetch some value along with the interest. Hence fuure value is nothing but the present value along with some interest amount at the end of a particular period.

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