You invest $9,000 today at an annual interest rate of 5%. How much do you expect to have 5 years from now if the interest compounds each year? $10,225.91 $11,133.33 $11,486.53 $11,979.14
You invest $9,000 today at an annual interest rate of 5%. How much do you expect to have 5 years from now if the interest compounds each year? $10,225.91 $11,133.33 $11,486.53 $11,979.14
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Question
You invest $9,000 today at an annual interest rate of 5%. How much do you expect to have 5 years from now if the interest compounds each year?
$10,225.91 |
||
$11,133.33 |
||
$11,486.53 |
||
$11,979.14
|
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