1) If Richard has a $175,000 bond with a 9% interest rate, compounded annually, how much will he have in 7 years?
Ans $ 319906.85
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
FV = | PV (1 + r )n |
FV = | 175000*(1+9%)^7 |
FV = | 319906.85 |
1) If Richard has a $175,000 bond with a 9% interest rate, compounded annually, how much...
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