You just received a bonus of $1,000. a. Calculate the future value of $1,000?, given that...

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Finance

You just received a bonus of $1,000.
a. Calculate the future value of $1,000?, given that it will beheld in the bank for 5 years and earn an annual interest rate of 3percent.
b. Recalculate part (a?) using a compounding period that is? (1)semiannual and? (2) bimonthly.
c. Recalculate parts (a?) and (b?) using an annual interest rateof 6 percent.
d. Recalculate part (a?) using a time horizon of 10 years at anannual interest rate of 3 percent.
e. What conclusions can you draw when you compare the answers inparts (c?) and (d?) with the answers in parts (a?) and (b?)?

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You just received a bonus of $1,000.a. Calculate the future value of $1,000?, given that it will beheld in the bank for 5 years and earn an annual interest rate of 3percent.b. Recalculate part (a?) using a compounding period that is? (1)semiannual and? (2) bimonthly.c. Recalculate parts (a?) and (b?) using an annual interest rateof 6 percent.d. Recalculate part (a?) using a time horizon of 10 years at anannual interest rate of 3 percent.e. What conclusions can you draw when you compare the answers inparts (c?) and (d?) with the answers in parts (a?) and (b?)?