what's the future value of $1,050 after 5 years if the appropriate interest rate is 6%, compounded monthly?
Select the correct answer.
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Ans b $ 1416.29
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
FV = | PV (1 + r )n |
FV = | 1050*(1+6%/12)^60 |
FV = | 1416.29 |
what's the future value of $1,050 after 5 years if the appropriate interest rate is 6%,...
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