An investment of $50,000 is proposed at an interest rate of 8%. What is the future amount in 10 years? Consider both the simple and compound interests.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
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An investment of $50,000 is proposed at an interest rate of 8%. What is the future amount in 10 years? Consider both the simple and compound interests.

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