your birthday is next week and instead of other presents, your parents promised to give you$1,000 in cash. Since you have a part time job and, thus, don't need the cahs immediately, you decide to invest the money in a bank CD that pays 5.2% , compounded quaterly, for the next 2 yrs. How much money can you expect to earn in this period of time?
your birthday is next week and instead of other presents, your parents promised to give you$1,000 in cash. Since you have a part time job and, thus, don't need the cahs immediately, you decide to invest the money in a bank CD that pays 5.2% , compounded quaterly, for the next 2 yrs. How much money can you expect to earn in this period of time?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
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your birthday is next week and instead of other presents, your parents promised to give you$1,000 in cash. Since you have a part time job and, thus, don't need the cahs immediately, you decide to invest the money in a bank CD that pays 5.2% , compounded quaterly, for the next 2 yrs. How much money can you expect to earn in this period of time?
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