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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Question
- What’s the
future value of $100 after 3 years if the appropriate interest rate is 8%, compounded annually? - Compounded monthly?
SHOW WORK AND USE FINANCIAL CALCULATOR
Expert Solution
Step 1
Information Provided:
- Principal = $1000
- Period = 3 years
- Interest rate = 8%
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