Ans $ 141.81
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
Value of First Coin | |
FV = | PV (1 + r )n |
FV = | 370*(1+6.6%)^20 |
FV = | 1328.45 |
Value of Second Coin | |
FV = | PV (1 + r )n |
FV = | 370*(1+6%)^20 |
FV = | 1186.64 |
Difference = | 1328.45 - 1186.64 |
141.81 |
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