An investment costs $36,766.29 today. If it matures in 10 years, and the interest rate of...
An investment costs $36,766.29 today. If it matures in 10 years, and the interest rate of 3.21% is compounded daily, how much will the security be worth at maturity?
Answer =
Cash Flow =
R =
N =
Homework Answers
Security value at maturity $ 50,681.82
| Future value of security | = | Investment amount *(1+i)^n | |||
| = | 36766.29*(1+0.0000879)^3650 | ||||
| = | $ 50,681.82 | ||||
| Where, | |||||
| i | = | 3.21%/365 | = | 0.0000879 | |
| n | = | 10*365 | = | 3650 | |
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