Personal Finance, Student Value Edition (8th Edition) (The Pearson Series in Finance)
8th Edition
ISBN: 9780134730851
Author: Arthur J. Keown
Publisher: PEARSON
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Question
Chapter 3, Problem 5PA
Summary Introduction
To determine:
The amount at the end of one year and 20 years on investment of $5,000 at 5 percent interest compounded annually.
Introduction:
Compounding period can be referred to the time period for which the amount of interest would be added in the amount of principal that has been invested. The compounding period can be defined in annually, semi annually, quarterly or even monthly.
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3 years ago, you invested $9,200. In 3 years, you expect to have $14,167. If you expect to earn the same annual return after 3 years from today as the annual return implied from the past and expected values given in the problem, then in how many years from today do you expect to have $28,798?
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Chapter 3 Solutions
Personal Finance, Student Value Edition (8th Edition) (The Pearson Series in Finance)
Ch. 3 - Prob. 1PACh. 3 - Prob. 2PACh. 3 - Prob. 3PACh. 3 - Prob. 4PACh. 3 - Prob. 5PACh. 3 - Prob. 6PACh. 3 - Prob. 7PACh. 3 - Prob. 8PACh. 3 - Prob. 9PACh. 3 - Prob. 10PA
Ch. 3 - Prob. 11PACh. 3 - Prob. 12PACh. 3 - Prob. 13PACh. 3 - Prob. 14PACh. 3 - Prob. 15PACh. 3 - Prob. 16PACh. 3 - Prob. 17PACh. 3 - Prob. 18PACh. 3 - Prob. 19PACh. 3 - Prob. 20PACh. 3 - Prob. 21PACh. 3 - Prob. 22PACh. 3 - Prob. 23PACh. 3 - Prob. 24PACh. 3 - Prob. 1DC1Ch. 3 - Prob. 2DC1Ch. 3 - Prob. 3DC1Ch. 3 - Prob. 4DC1Ch. 3 - Prob. 5DC1Ch. 3 - Prob. 1DC2Ch. 3 - Prob. 2DC2Ch. 3 - Prob. 3DC2Ch. 3 - Prob. 4DC2
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