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Time Value of Money a. If interest is compounded annually, how many years must $1...

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Accounting

Time Value of Money

a. If interest is compounded annually, how many years must $1 today be invested at 1% interest before it turns into $1,000,000?

b. If interest is compounded annually, how much must be invested today at 10% interest, in order for you to have $50,000 in 15 years?

c. How much will $2,000 today be worth in six years if the investment earns 8% interest and is compounded semi-annually?

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