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
Related questions
Question
The four people below have the following investments.
| Invested Amount | Interest Rate | Compounding | |
|---|---|---|---|
| Jerry | $ 11,500 | 12% | Quarterly |
| Elaine | 14,500 | 8 | Semiannually |
| George | 21,500 | 7 | Annually |
| Kramer | 17,500 | 9 | Annually |
Required:
1-a. Calculate the
1-b. Who has the greatest investment accumulation?
________________________________________________________
I don't understand how to convert the years to months or time periods to be able to work this problem
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