(a) Complete the table below for an investment of N$25,000.00 in the bank for 5 years earning 8.5% compound interest p.a. for the specified frequency of compounding. Frequency Formula Amount at the end of the 5th year Interest Earned Daily Half yearly Quarterly Weekly Continuously
(a) Complete the table below for an investment of N$25,000.00 in the bank for 5 years earning 8.5% compound interest p.a. for the specified frequency of compounding. Frequency Formula Amount at the end of the 5th year Interest Earned Daily Half yearly Quarterly Weekly Continuously
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 15E
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QUESTION 1
(a) Complete the table below for an investment of N$25,000.00 in the bank for 5 years earning 8.5% compound interest p.a. for the specified frequency of compounding.
Frequency |
Formula |
Amount at the end of the 5th year |
Interest Earned |
Daily |
|
|
|
Half yearly |
|
|
|
Quarterly |
|
|
|
Weekly |
|
|
|
Continuously |
|
|
|
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