Explanation Given information: Think about an investment that earns compound interest at a rate of 12 % per year. The value of a $ 10 , 000 investment in this account after 5 years can be found by evaluating the expression 10000 ( 1.12 ) 5 Calculation: Consider the provided information. $ 10 , 000 when invested at 12 % simple interest per year the account value goes up by New amount = old�

1st Edition

ISBN: 9781259218859

Author: David Sobecki Professor, Brian A. Mercer

Publisher: McGraw-Hill Education

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Chapter 1.7, Problem 4C

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To calculate: The value of $10,000 investment after 5 years in case of simple interest.

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Chapter 1.7, Problem 3C

Chapter 1.7, Problem 5C

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The value of $ 10 , 000 investment after 5 years in case of simple interest.

Solution Summary: The author calculates the value of investment after 5years in case of simple interest.

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To calculate: The value of $10,000 investment after 5 years in case of simple interest.

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Chapter 1 Solutions