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QUESTION
$100 after 3 years if it is invested in an account paying 8% annual interest and compounded annually? How about if the interest is compounded hourly?...
1- What's the future value of an initial $100 after 3 years if it is invested in an account paying 8% annual interest and compounded annually? How about if the interest is compounded hourly?
2- What is the present value of $100 to be received in 3 years if the annual interest rate is 8% and compounded annually? How about if the interest is compounded daily?
