Solved: State the amount accumulated by each of the following, Microeconomics

State the amount accumulated by each of the following

QUESTION 1. State the amount accumulated by each of the following present investmens:

a) $4,000 in 10 years at 8% compounded annually.

b) $10,000 in 8 years at 12% compounded annually.

QUESTION 2. State the present worth of the following future payments:

a) $6,600 five years from now at 14% compounded annually.

b) $12,000 eight years from now at 7% compounded annually.

QUESTION 3. How many years it take an investment to triple if the interest rate is 7% compounded annually?

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Microeconomics: State the amount accumulated by each of the following

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