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.)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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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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