You invest $5,000 into a money market account that pays interest monthly (e.g., interest is compounded monthly). After three-year the value of the account is $6,800. What is the annual and monthly interest rate? please use excel and show what step by step how you did it. Also, use formula ? = n ∙ ((?? ??)^1/(?∙?)− 1) -1 is not squared
You invest $5,000 into a money market account that pays interest monthly (e.g., interest is compounded monthly). After three-year the value of the account is $6,800. What is the annual and monthly interest rate? please use excel and show what step by step how you did it. Also, use formula ? = n ∙ ((?? ??)^1/(?∙?)− 1) -1 is not squared
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 invest $5,000 into a
please use excel and show what step by step how you did it. Also, use formula ? = n ∙ ((??
??)^1/(?∙?)− 1)
-1 is not squared
See highlited formula
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