I am investing $10,000 today in an account providing 12% annual interest compounded semiannually. Identify...
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Accounting
I am investing $10,000 today in an account providing 12% annual interest compounded semiannually. Identify the details below that I need in order to determine the dollar amount I will have in 8 years.
What table must I use to find the relevant factor?
- Future value of single-sum
- Present value of single-sum
- Future value of ordinary annuity
- Present value of ordinary annuity
What is the interest rate to find the relevant factor?
What are the number of periods (n) to find the relevant factor?
What is the dollar amount I will have in 8 years?
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