Compute the future value compounded annually


Problem: Compute the future value of $1,000 compounded annually for

a. 10 years at 5 percent

b. 10 years at 7 percent

c. 20 years at 5 percent

d. Why is the interest earned in part (c) not twice the amount earned in part (a)

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Finance Basics: Compute the future value compounded annually
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