Calculation of compounded interest rate for a deposit

Reference no: EM13827052

Problem:

Determine the value at the end of four years of a $10,000 investment (today) in a bank certificate of deposit (CD) that pays a nominal annual interest rate of 12 percent, compounded.

a. Semiannually:
b. Quarterly:
c. Monthly:

Summary of question:

This question basically belongs to Finance as well as it explains about calculation of compounded interest rate for a deposit in a bank. The calculation needs to be done semiannually, quarterly and monthly.

Reference no: EM13827052

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