Using quarterly compounding periods, (1) calculate future value if $5,000 is deposited initially at 11% annual interest for 8yrs., and (2) determine the effective annual rate (EAR)
This is one question with two parts (1) and (2) for (2) I believe the correct answer is 11.46% part (1) has to be rouned...
DATE
Question answered on Jul 22, 2018
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Solution~000542565.zip (18.37 KB)