calculate to the nearest cent the future value of an investment of $10000 at the stated...

calculate to the nearest cent the future value of an investment of $10000 at the stated interest rate after the stated amount of time 10.4% per year compounded monthly after 9 years.

Solutions

Expert Solution

Ans $ 25395.00

FV =	Future Value
PV =	Present Value
r =	rate of interest
n=	no of period


FV =	PV (1 + r )^n
FV =	10000*(1+ 10.4%/12)^108
FV =	25395.00

jeff jeffy answered 1 year ago

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