eposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate that compounds monthly over the next thirty years. If you were to achieve that long-term growth rate with monthly compounding, what would be the value of your investment?

eposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate that compounds monthly over the next thirty years. If you were to achieve that long-term growth rate with monthly compounding, what would be the value of your investment?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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You deposit $10,000 into an investment account. You believe that you can reasonably expect a compounding 6% annual growth rate that compounds monthly over the next thirty years. If you were to achieve that long-term growth rate with monthly compounding, what would be the value of your investment?

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