Question

The future value of a lump sum at the end of five years is $1,000. The nominal interest is 10 percent and interest is compoun
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Given Ruture value $1000 Interest rate = 10. Effective amnual rate= (1+r)^. Interest is compounded semiannually. = (1+6%)*4=1

Add a comment
Know the answer?
Add Answer to:
The future value of a lump sum at the end of five years is $1,000. The...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT