Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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An initial amount of $10,000 is deposited into a high-yield savings account with
an 8.6% APR. Complete the table below, assuming that no additional deposits
will be made.
Round each answer to 2 decimal places.
accumulated amount
after 8 years
effective rate
years required for
balance to be $100,000
interest compounded
semiannually
1
$
3
% per year
5
years
interest compounded
continuously
2
$
4
% per year
6
years
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Transcribed Image Text:An initial amount of $10,000 is deposited into a high-yield savings account with an 8.6% APR. Complete the table below, assuming that no additional deposits will be made. Round each answer to 2 decimal places. accumulated amount after 8 years effective rate years required for balance to be $100,000 interest compounded semiannually 1 $ 3 % per year 5 years interest compounded continuously 2 $ 4 % per year 6 years
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