You put $250 in the bank for 5 years at 12% a. if interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. b. use the future value of $1 table in the textbook to verify that your answer is correct. (https://cnx.org/contents/kg0cimBs@14.13:vq8rrTZQ@6/Time-Value-of-Money)
You put $250 in the bank for 5 years at 12% a. if interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. b. use the future value of $1 table in the textbook to verify that your answer is correct. (https://cnx.org/contents/kg0cimBs@14.13:vq8rrTZQ@6/Time-Value-of-Money)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...
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You put $250 in the bank for 5 years at 12%
a. if interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year.
b. use the future value of $1 table in the textbook to verify that your answer is correct. (https://cnx.org/contents/kg0cimBs@14.13:vq8rrTZQ@6/Time-Value-of-Money)
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