Future Value
= Present Value x ( 1 + Rate of interest) ^ Number of years
= $10,000 x ( 1.10 ^ 10)
= $10,000 x 2.593742
= $ 25,937.42
40 2 Future Value of Investment. Ari has $10,000 to invest in stock. Ari believes he...
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Round to the nearest cent
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If Maggie has $5,000 to invest and wants to have $10,000 at the end of 9 years, what interest rate must she earn on her money, assuming annual compounding? Select one: a. 5% b. 6% c. 7% d. 8% e. None of the above Please show all work and use present value tables for caculations
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