How much interest will be earned if $9,000.00 is invested for 7 years at 8% compounded every 4 months? HINT: You know how to find the future value of the investment at the end of the time period. To find the amount of interest earned, just subtract the PRINCIPAL from the future value. You would earn $ in interest. (Round to 2 decimal places.)
How much interest will be earned if $9,000.00 is invested for 7 years at 8% compounded every 4 months? HINT: You know how to find the future value of the investment at the end of the time period. To find the amount of interest earned, just subtract the PRINCIPAL from the future value. You would earn $ in interest. (Round to 2 decimal places.)
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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How much interest will be earned if $9,000.00 is invested for 7 years at 8% compounded every 4 months?
HINT: You know how to find the
You would earn $ in interest. (Round to 2 decimal places.)
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