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QUESTION
You deposit $10,000. How much will you have in 4 years at 8% compounded annually, and at 12% compounded annually?
- You deposit $10,000. How much will you have in 4 years at 8% compounded annually, and at 12% compounded annually?
- A savings and loan association offers depositors a $10,000 lump-sum payment 4 years hence, how much will you be willing to deposit if you desire an interest rate of 8% compounded annually? how much at an interest rate of 12%?
- Repeat requirement 2, assuming an interest rates of 6% and do the calculation twice, assuming annual and then semiannual compounding.financial
