If $1000 isinvested for x years at 8% compoundedquarterly, the future value of the investment is given by S = 1000(1 +0.08/4)4x What will be the future value of this investment in 20 years? Expert Solution
If $1000 isinvested for x years at 8% compoundedquarterly, the future value of the investment is given by S = 1000(1 +0.08/4)4x What will be the future value of this investment in 20 years? Expert Solution
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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If $1000 isinvested for x years at 8% compoundedquarterly, the future value of the investment is given by
S = 1000(1 +0.08/4)4x
What will be the future value of this investment in 20 years?
Expert Solution
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