You have an investment account that started with $4,000 10 years ago and which now has grown to $10,000. a. What annual rate of return have you earned (you have made no additional contribution to the account)? b. If the savings bond earns 14% per year from now on, what will the account's value be 10 years from now?

You have an investment account that started with $4,000 10 years ago and which now has grown to $10,000. a. What annual rate of return have you earned (you have made no additional contribution to the account)? b. If the savings bond earns 14% per year from now on, what will the account's value be 10 years from now?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 6P

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