You deposit $200 in an account earning 8% compound interest for 5 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. (1 year = 365 days, including leap years)
You deposit $200 in an account earning 8% compound interest for 5 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. (1 year = 365 days, including leap years)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![You deposit $200 in an account earning 8% compound interest for 5 years. Find the
future value and the interest earned for each of the following compounding
frequencies. Round all answers to two decimal places if necessary.
(1 year = 365 days, including leap years)
Frequency
Annually:
Semiannually:
Quarterly:
Monthly:
Daily:
P/Y
C/Y
]]]]]]
‒‒‒
N
[[
I/Y
1.1.0.1.0
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff69e045a-b768-462c-80c2-c809f512fc72%2F1ffcd83d-2459-4678-b639-f5fe78d79f63%2Fsa1fapt_processed.png&w=3840&q=75)
Transcribed Image Text:You deposit $200 in an account earning 8% compound interest for 5 years. Find the
future value and the interest earned for each of the following compounding
frequencies. Round all answers to two decimal places if necessary.
(1 year = 365 days, including leap years)
Frequency
Annually:
Semiannually:
Quarterly:
Monthly:
Daily:
P/Y
C/Y
]]]]]]
‒‒‒
N
[[
I/Y
1.1.0.1.0
%
Transcribed Image Text:Frequency PV
Annually:
Semiannually:
Quarterly:
Monthly:
Daily:
$
$
$
$
$
PMT
$
+A
$
$
$
LA
$
$
LA
LA
$
LA
$
LA
$
$
FV
Interest
Earned
$
$
LA
$
LA
LA
$
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