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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Question

Jamilah and Alexis have $500 to invest. The bank offers an interest rate of 6% compounded annually.

 

a) How much money will they have after 1 year?

b) How much money will they have after 5 years? 

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