Calculate the compounding factor you would use to find the future value of an amount of money you will receive 20 years in the future, assuming a 6% interest rate.   Question 14 options:   3.207   3.042   2.498   2.662

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Calculate the compounding factor you would use to find the future value of an amount of money you will receive 20 years in the future, assuming a 6% interest rate.

 

Question 14 options:

 

3.207

 

3.042

 

2.498

 

2.662

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